US stock indices retreated on Thursday after a hotter-than-expected wholesale inflation data dampened investor hopes of interest rate cuts by the Federal Reserve this year. A Labor Department report showed the Producer Price Index (PPI) rose 0.9% in July on a month-on-month basis, much greater than Wall Street estimates.
Wall Street today: Dow Jones, S&P 500, Nasdaq retreat after hotter-than-expected wholesale inflation data
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