All three major U.S averages were trading in the red as markets opened for trade. After the hotter than expected inflation data yesterday, stocks on the Wall Street are struggling to find the green. Adding to the injury was the 11.3% year on year rise in producer prices for June. Another major indicator of the economy isn’t doing so great either. The weekly jobless claims rose to 2 hundred and 44 thousand for the last week, coming in above expectations. This is the highest level since November last year. Meanwhile, oil prices continue to slip. Brent crude has fallen to its lowest level since the Russian invasion of Ukraine in February. With the dollar rallying, commodities are seeing sell-off. Gold is down over 2%, while Silver has gone down over 5%. On India Tonight, ET Now’s Vikram Oza dives into the state of the U.S economy as we are joined by Manish Singh of Crossbridge Capital…tune in!
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