Finance

A series of cooler-than-expected inflation reports, including a flat wholesale producer-price index for July, has given the Federal Reserve additional leeway. Market participants increasingly believe these tamer metrics reduce the immediate necessity for the central bank to implement an interest rate hike at its upcoming September meeting.

U.S. retail sales unexpectedly dropped by 0.6% in July, marking the most significant contraction since May 2025. This downturn was largely driven by a pullback in automotive and online store purchases, coupled with the fading impact of earlier government tax refunds.

Shares of the social media company surged dramatically in morning trading following the announcement that it will join the S&P 500 index next week. Market analysts anticipate substantial buying pressure as index funds adjust their portfolios to acquire millions of shares to replicate the benchmark.