Daily Wrap

S&P futures were already up +0.4% at 8 a.m. ET this morning before PPI. The July Producer Price Index (PPI) came in cooler than expected at 8:30 a.m. Total PPI rose 0.1% month-over-month (consensus 0.1%) and core PPI, which excludes food and energy, was flat (consensus 0.2%). The monthly figures left total PPI up 2.2% year-over-year,…