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Strategies & Market Trends : VOLTAIRE'S PORCH-MODERATED -- Ignore unavailable to you. Want to Upgrade?

To: Dealer who wrote (40161)	8/10/2001 8:39:09 AM
From: stockman_scott	Respond to of 65232

Producer Prices Tumble in July Friday August 10, 8:34 am Eastern Time WASHINGTON (Reuters) - Prices paid to U.S. producers fell in July at the fastest pace in nearly eight years, led by huge declines in energy prices, the government said on Friday in a report that added fuel to the argument that inflation is under wraps. The Producer Price Index, a closely watched gauge of wholesale inflation, plunged 0.9 percent last month after falling 0.4 percent in June, the Labor Department said. It was the biggest drop in the PPI since a 1.0 percent decline in August 1993 and was led by the largest decrease in energy prices in nearly 12 years. Excluding the more volatile food and energy sectors, the so-called core PPI rose 0.2 percent in July after posting a 0.1 percent increase in the prior month. The numbers compared to estimates from Wall Street economists who on average figured the PPI fell 0.3 percent last month while the core rose 0.1 percent.

To: Dealer who wrote (40161)	8/10/2001 8:41:38 AM
From: stockman_scott	Read Replies (4) \| Respond to of 65232

08:32 ET Economic Data : PPI fell 0.9% in July vs -0.3% consensus, but core rate rose 0.2%, which was a bit higher than the 0.1% consensus. The larger than expected decline in total PPI was an energy story and of little importance. The slightly larger than expected increase in the core will limit any positive reaction; both the S&P and Nasdaq futures briefly edged higher but are now below pre-release levels and indicating a roughly flat open. Best Regards, Scott ___________________________________ Dealer: I'm off to some meetings....hope you have a good day.