Inflation data, bitcoin record high, Deere cuts outlook: 3 Things

Here's what Wall Street is watching on Thursday, August 14.

US stock futures fall after fresh inflation data came in hotter-than-expected. July's Producer Price Index (PPI) showed the largest spike in three years.

Bitcoin (BTC-USD) hits a fresh record high, rising above $124,000.

Deere (DE) stock is falling after the company lowered its outlook, as uncertainty among its customers weighs on sales.

To watch more expert insights and analysis on the latest market action, check out more Morning Brief.

Video Transcript

00:00 Speaker A

First up, US stock futures are falling after the latest read on inflation came in hotter than expected. We're talking about producer price index data for July. It showed that US wholesale inflation accelerated last month by the most in three years, driven by a surge in the cost of services. The latest data throwing some cold water on Wall Street's bets on interest rate cuts in September. Plus, Bitcoin hitting a fresh record high. The digital currency touching $124,000 per token amid the risk-on rally, and smaller competitors like Ether and Solana are trading near records as well amid growing corporate adoption. Plus, earnings continued to roll out on Wall Street, watching results from the world's biggest farm machinery maker Deere. Shares there falling after the company paired back its outlook as struggling farmers pull back on spending. The farm machinery sector had been expected to bottom out this year, but lagging demand for crops amid President Trump's trade wars continues to weigh on the industry. Related Videos

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