خلاصه اخبار بازار قاره آمریکا: نگرانی‌های هاوکی (مواضع انقباضی) Fed پس از انتشار PPI فروکش کرد

Fed's Goolsbee: We're not on the way to 2% inflation and we have to deal with that

Goldman Sachs: We can explain almost the entire US inflation overshoot by tariffs and the war in Iran

Fed's Collins: I would think some additional policy tightening is warranted soon

The PPI numbers were something of a respite to the drumbeat of inflation worries as the main numbers were 0.1 pp below estimates. That was generally balanced by non-stop Fed talk on inflation, with Goolsbee saying the recent CPI number was "borderline alarming" and others striking a similar tone. BofA was out with a note to change its Fed call to three consecutive hikes in Dec, Jan and March. All that helped to keep a bid in the dollar, which finisehd at hte best levels of the day. The euro continues to test the Liberation Day lows.

In equity markets, the closing levels don't tell the story as the selling was heavily concentrated in AI and chip names. AMD led the re-think with an 8% loss and pre-market gains for Nvidia reversed. The thinking is that the US is going to draw a hard line against China sales and remote use, curbing the market and -- ultimately -- allowing China to build its own chip companies. Outside of that, breadth was positive and there were some bright spots like Meta with a 2.8% gain. Next week features a heavy does of retail earnings so that will be a good check on the consumer.

Iran news was generally quiet but there was talk of a strike on US radar facilities in Bahrain. Iran claims it was hit, the US claims the drones were shot down. There was little or nothing on negotiations, so it appears we've reached a standstill and the oil market wasn't overly volatile.

This article was written by Adam Button at investinglive.com.