8/9/22

Ford’s newest truck will soon cost you more. And why chicken is the “meat of the moment.” Not a great day for tech stocks as investors wait to see tomorrow’s monthly inflation data from the federal government.

The Dow fell 58 to close at 32,774
The S&P lost 17 points.
The Nasdaq got hit the hardest, losing 150, or about 1.2%.

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The S&P 500 has bounced 13% from its low in mid-June… because many hope inflation has peaked. If so, it means The Fed can be less aggressive raising rates moving forward. Economists expect tomorrow’s consumer price index to show inflation at 8.7% percent.

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Ford will soon let you reserve an electric F-150 Lightning again, but for a much higher price. The carmaker is bumping up base prices by $7,000, now starting at $47,000. Ford says battery parts simply cost more.

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Steak is so 2021. Demand for chicken is through the roof as inflation-weary shoppers are buying cheaper meats. More shoppers are also switching from beef to pork, and opting for store brands instead of name brands to save some cash.

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From Los Angeles, I’m Brian Martin with your BEONDTV After the Bell report.