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Good morning investors! Bitcoin remains close to all time highs as stocks take a break after a not so exciting PPI report.

Today we cover:

  • Wholesale prices spike

  • Some more earnings

  • Something about 529 Plans

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📊 Economy and News

Wholesale Prices Spike in July, Raising Inflation Concerns

U.S. wholesale prices rose 0.9% in July, sharply higher than the 0.2% forecast, marking the largest monthly gain since June 2022. Core producer prices (excluding food and energy) also jumped 0.9%, well above the expected 0.3%.

Key Drivers:

  • Services inflation rose 1.1%, with trade services margins up 2%

  • Machinery wholesaling surged 3.8%

  • Portfolio management fees spiked 5.4%

The year-over-year PPI climbed 3.3%, surpassing the Fed’s 2% target. While markets had anticipated a Fed rate cut in September, the odds dropped slightly after the report, signaling inflation may remain sticky.

Some analysts noted businesses may be absorbing tariff-related costs — for now. Meanwhile, the White House claimed the data shows consumers aren't bearing those costs yet.

Global hits:

U.S. Jobless Claims Dip, but Hiring Slows Amid Weak Demand

New U.S. jobless claims fell by 3,000 to 224,000 last week, indicating low layoffs, though weak domestic demand is making businesses hesitant to hire, possibly pushing August's unemployment rate to 4.3%.

While economists expected 228,000 claims, the modest drop reflects a labor market marked by few firings but sluggish job creation. Average monthly job gains over the past three months were just 35,000.

Continuing claims, seen as a proxy for hiring, dipped 15,000 to 1.953 million, but remain elevated, aligning with growing public sentiment that jobs are harder to find.

Good to know: Freddie Mac reports 30-year mortgage rate falls to 6.58%, lowest this year.

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📈 Stocks

S&P 500 6,468.54 (+0.030%)
DJIA 44,911.26 (-0.025%)
NASDAQ 21,710.67 (-0.011%)
BRENT CRUDE 66.86 (+1.67%)
* Prices as of Aug 15th, 12:20 AM UTC

More earnings

  • John Deere reported third-quarter earnings that beat Wall Street estimates. Still, the agricultural machinery company said it took a $200 million hit from global tariffs in the quarter. The company estimates the pre-tax impact of tariffs for the fiscal 2025 year will reach $600 million.

  • Taiwan’s Foxconn reported a 27% year-over-year rise in Q2 operating profit, driven by strong demand for its AI server business, beating estimates. Revenue rose 16% from last year. Foxconn, best known as Apple’s iPhone maker, is expanding into AI, EVs, and semiconductors.

  • Tapestry shares fell 15% after the company issued a weaker-than-expected 2026 outlook, citing a $160 million hit from new tariffs. The owner of Coach, Kate Spade, and Stuart Weitzman forecast EPS of $5.30–$5.45, including a $0.60 drag from tariffs—below analyst expectations. Despite the warning, Q4 revenue hit a record $1.72B with EPS of $1.04, both beating estimates. Coach sales rose 14%, while Kate Spade and Stuart Weitzman declined 13% and 10%, respectively.

  • Applied Materials shares sank more than 10% in extended trading as the semiconductor equipment company provided outlook for the current quarter that came in light. CEO Gary Dickerson said that the current macroeconomic and policy environment is “creating increased uncertainty and lower visibility.” Dickerson said the company’s China business is particularly effected by the uncertainty.

Shocking: Intel stock climbs 7% on report Trump administration is considering stake in chipmaker. Eli Lilly hikes price of diabetes drug Mounjaro in UK as Trump pressures pharma to align drug costs.

Ulta Beauty and Target have decided to end a deal that opened makeup and beauty shops in hundreds of Target’s stores next year.

Exciting: Apple Watch getting redesigned blood oxygen feature following legal dispute. Moreover, Warren Buffett’s Berkshire Hathaway reveals new stake in beleaguered insurer UnitedHealth. Lastly, Cadillac unveils ‘Elevated Velocity’ electric crossover concept car.

💵 Personal Finance

Trump’s Budget Bill Expands 529 Plans: What Parents Need to Know

Trump’s recent budget bill introduced new investment accounts for kids born between 2025 and 2028 — dubbed "Trump accounts" — which come with a $1,000 government-funded start. While these accounts grabbed attention, another important change flew under the radar: 529 college savings plans just got more flexible.

A 529 plan is a tax-advantaged account that allows money to grow and be withdrawn tax-free when used for qualified education expenses. Originally limited to college tuition, eligible expenses have expanded over the years — and now, the list is even longer.

New eligible uses under the bill include:

  • Vocational training (e.g., plumbing, cosmetology, trucking)

  • Continuing education for licensed professionals (e.g., nurses, teachers)

  • Exam prep and materials for professional licenses (e.g., law, accounting)

To qualify, programs must be approved by credentialing organizations or listed in official state or VA directories.

Choosing a 529 Plan:
You don’t have to use your home state’s plan — and in some cases, it might pay to shop around. Look for:

  • State tax breaks

  • Strong investment options

  • Low fees

Sites like Saving for College and Morningstar can help compare plans. And with new rules allowing some unused 529 funds to roll over into IRAs, the plans are more versatile than ever.

If unsure where to start, a financial advisor can guide you based on your goals and state benefits.

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Nothing in this newsletter is financial advice. Always do your own research and think for yourself.

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