Wall Street is bracing for the U.S. consumer-inflation report on Thursday
U.S. stocks traded lower Wednesday, led by technology stocks, as traders absorbed news of deflation in China and looked ahead to the U.S. July consumer price index data due Thursday.
The so-called core CPI, which excludes food and energy prices, is expected to grow 0.2% in July. The rate of core inflation over the past 12 months is expected to slow to 4.7% in July from 4.8% in the prior month. Weighing on the sentiment is that news of falling consumer prices in China — which fell 0.3% for the year to July — dovetails with the country’s weak trade data released this week and raises concerns that growth is faltering in the world’s second biggest economy.
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