Stocks In The Red Ahead Of Fed Minutes; Inflation Rises Less Than Expected

dreamstimeU.S. and European stocks are in the red on Wednesday due to growth concerns related to China and general unease about the release of the Fed minutes from last Fed meeting along with the possibility of an upcoming interest rate hike in 2015.

Latest inflation data released today for the Consumer Price Index (CPI) showed an increase of 0.1 percent
in July on a seasonally adjusted basis, the U.S. Bureau of Labor Statistics reported today.

Economists from briefing.com were forecasting an increase of 0.2. percent.

During the last 12 months, the all items index rose 0.2 percent before seasonal adjustment.

The all items index increased 0.2 percent for the 12 months ending July.

The 12-month change has been moving higher since April.

The index for all items minus food and energy increased 1.8 percent for the 12 months ending July.

It was the fourth time in 5 months the 12-month change was 1.8 percent.

The food index increased 1.6 percent over the last 12 months but the energy index continues to show a 12-month decline, falling 14.8 percent over the past year.

On Wednesday German lawmakers approved a bailout for Greece, one of the final steps that allows Greece to receive a 86 billion euro rescue bailout plan and keeps the indebted country in the euro area.

-Johnathan Schweitzer

 

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