Daily Rundown
September 11, 2026
Chart of the Day
Number of the Day
4.9
The months of supply of existing homes on the market at the current sales pace in August, up from 4.6 months in July and the most since 2015
Quote of the Day
“The furniture business was impacted by tariffs more than we anticipated. And that didn’t resonate with consumers. We took prices down in the second quarter and we saw a big difference in the performance of the business.”
Macy’s CEO Antony Spring
Thursday’s Highlights
Initial unemployment claims (week of 8/30) edged lower by 1,000 to 206,000.
The PPI (August) rose by 0.4 percent on the month and 5.4 percent year-over-year.
The core PPI (August) rose by 0.2 percent on the month and 4.6 percent year-over-year.
Existing home sales (August) moved lower by 2.0 percent to equal a 23-month low.
Oracle cloud infrastructure sales (June-August) jumped 120.7 percent year-over-year.
Macy’s same-store sales (June-August) were up by 2.7 percent year-over-year.
Quick Commentary
The PPI numbers were generally well behaved, as the core index rose at its slowest pace in four months and its second-slowest across the past year. Still, this may not be quite enough to forestall a Fed rate hike next week given the renewed rise in energy prices and the relentless climb in long-term Treasury yields. This morning’s CPI report promises to have a substantial influence over the FOMC decision, but the bar is likely set relatively low at this point for the data to be enough to force policymakers’ hands.
Today’s Highlights
CPI
Consumer sentiment
Household balance sheet
Daily Trivia
Who was credited as chief creative officer for Heinz’s award-winning 2017 “Pass the Heinz” ads, a campaign that was ostensibly pitched to the company in 1968?
(Thursday’s Question: What is the most expensive building completed in the U.S. thus far in the 2020s, its price tag lifted by more than $1 billion for “seismic sensitivity, monitoring, and mitigation efforts”? Answer: SoFi Stadium)
Who was credited as chief creative officer for Heinz’s award-winning 2017 “Pass the Heinz” ads, a campaign that was ostensibly pitched to the company in 1968?
(Thursday’s Question: What is the most expensive building completed in the U.S. thus far in the 2020s, its price tag lifted by more than $1 billion for “seismic sensitivity, monitoring, and mitigation efforts”? Answer: SoFi Stadium)