- Slowing growth is here and already has been picked up by the more economically sensitive parts of the market.
- There are fewer and fewer stocks leading the markets higher.
- These divergences suggest that all is not well beneath the surface.
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- The producer price index increased 0.7% in August from a month ago, above the 0.6% Dow Jones estimate.
- Final demand prices rose 8.3% from a year ago, the biggest increase on record going back to 2010.
- The move showed that inflationary pressures are likely to persist.
(CNN)The tentatively positive public outlook that marked the first months of the Biden administration has faded, according to a new CNN poll conducted by SSRS. The survey, released Friday, finds a rising share of Americans who say things in the US are going badly and that the economy is in poor shape, with increased worries about the coronavirus, the economy and crime.
The new poll finds 69% of Americans say things in the country today are going badly, below the pandemic-era high of 77% reached in January just before President Joe Biden took office but well above the 60% who felt that way in a March CNN poll.
And 62% say that economic conditions in the US are poor, up from 45% in April and nearly as high as the pandemic-era peak of 65% reached in May 2020.
Costs US materials and components used by producers hit fresh 46 year high @Theimmigrant84
Transitory club pic.twitter.com/DlxCub8fDk
— 🅰🅻🅴🆂🆂🅸🅾 (@AlessioUrban) September 10, 2021
Metals markets are caught between fears of Federal Reserve tapering and the forces of inflation. Price levels continue to rise in the U.S. and around the world.
Job growth numbers on Friday failed to impress. Economists had predicted job growth in the area of 720,000, but according to the Department of Labor’s estimates, jobs growth for August was only a third of that: 235,000.