Key Points
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Wholesale prices dropped 0.3% in June 2023, marking the first monthly decline since August 2025.
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SK Hynix shares fell 13.2% on Wednesday, reversing most of Tuesday’s 18.5% increase.
The Nasdaq Composite (NASDAQINDEX: ^IXIC) was up 0.28% by 12:15 p.m. ET on Wednesday, after peaking at 0.8% earlier in the day. The S&P 500 gained 0.1%, while the Dow Jones Industrial Average (DJINDICES: ^DJI) increased by 0.3%.
Inflation news from the Bureau of Labor Statistics prompted optimism among investors, as the June decline in wholesale prices came in unexpected. New York Fed President John Williams indicated inflation may have peaked, leading traders to cut the odds of a Federal Reserve rate hike from 42% to 17%.
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