Opening Comment — Thursday, August 13, 2026
DJIA: 53,770.27, down 21.58
S&P 500: 7,748.50, up 20.30
NASDAQ: 26,588.49, up 143.04
Stocks higher ahead of PPI
Stock futures are higher Thursday morning ahead of today’s Producer Price Index (PPI) for July and fresh unemployment claims data. As of 7:14 AM ET, the Dow and the S&P 500 Index are both rising 0.2%. The Nasdaq 100 is increasing 0.1% relative to fair value on the GLOBEX.
U.S. equities were mostly higher on Wednesday as the headline Consumer Price Index (CPI) rose as expected in July, increasing 0.1% month-over-month (MOM) and 3.4% year-over-year (YOY), while core CPI also increased as expected, rising 0.2% MOM and 2.5% YOY. Meanwhile, the U.S. federal budget deficit for July widened more than forecasted. July’s average hourly earnings declined 0.2% YOY, while average weekly earnings increased 0.1% YOY. The Dow was little changed, while the tech-heavy Nasdaq Composite rose 0.5%. The S&P 500 increased 0.3% with eight of 11 sectors finishing in positive territory. The Real Estate sector was the top performer, rising 1.1%, while the Consumer Discretionary sector was the bottom performer, falling 1.4%.
On the data front, initial jobless claims for the week ending August 8 are expected to come in at 202,000, slightly higher than the prior week’s 199,000, while continuing claims are expected to come in at 1.79 million for the week ending August 1, down from the prior week’s 1.80 million. The headline PPI for July is expected to show price increases of 0.2% MOM and 4.9% YOY versus the prior month’s decrease of 0.3% and increase of 5.5%, respectively. The core PPI is expected to show price increases of 0.3% MOM and 4.1% YOY versus the prior month’s increases of 0.2% and 4.7%, respectively.
Across the pond, European stocks are mostly higher in mid-day trading as the U.K’s preliminary reading of second-quarter gross domestic product (GDP) rose 0.4% quarter over quarter, matching expectations, and showed a stronger-than-projected increase of 1.2% YOY. Additionally, the country’s June’s GDP unexpectedly rose 0.3% MOM. British industrial production for June unexpectedly declined 0.2% MOM and 0.2% YOY, while the trade deficit widened more than expected during the month. Meanwhile, the eurozone’s industrial production showed little change MOM and unexpectedly rose 0.1% YOY.
Overnight in Asia, stocks were mixed as Japan’s PPI for July rose less than expected, increasing 0.1% MOM and 7.2% YOY. Separately, the country’s July machine tool orders increased 50.4% YOY compared to the prior month’s 52.7% increase.
In FOREX trading, the U.S. dollar is slightly lower ahead of today’s U.S. PPI data.
Over in the commodity pits, West Texas Intermediate (WTI) crude oil is 2.1% lower at $81.56/barrel amidst uncertainty around the U.S.-Iran conflict.
In the metals complex, gold is 0.4% lower at $4,391.83/ounce despite a weakening U.S. dollar.