A.M. Update – PPI Hot

S&P futures are up +0.07%, NASDAQ are flat, but Small Caps are +1%.  The June headline PPI printed hot at +0.2% MoM (consensus 0.1%) and May was revised higher) pushing the YoY print up to 2.6%, above the 2.3% expected. Core PPI, which excludes food and energy, rose by 0.4% MoM (double the 0.2% consensus),…