Inflation Report Ahead as Oil Prices Rise
By Jacqueline Policastro | Quincy News Correspondent
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Washington (Quincy News) — Market Recap: U.S. stocks slipped Tuesday as hopes for a U.S.-Iran agreement faded and oil prices climbed ahead of Wednesday’s inflation report. Iran said the Strait of Hormuz would remain closed unless the U.S. accepted its conditions, while fresh attacks on shipping in the region added to tensions. The S&P 500 fell 0.3%, the Dow declined 0.3% and the Nasdaq dropped 0.6%. Amazon and Alphabet were among the largest drags on the broader market, while energy stocks advanced.
Brent crude rose 1.4% to settle at $88.91 a barrel. Treasury yields eased, with the benchmark 10-year yield ending at about 4.69%.
Today’s Focus; The July Consumer Price Index arrives at 8:30 a.m. ET. Economists polled by Dow Jones expect prices to rise 0.1% from June and 3.4% from a year earlier. The report will be closely watched by the Fed following July’s weaker jobs report. A softer reading could give policymakers more room to hold rates steady in September, while hotter inflation could strengthen the case for another increase.
The Treasury will auction $42 billion in 10-year notes at 1 p.m., followed by the July federal budget statement at 2 p.m.
ON THE SCHEDULE FOR WEDNESDAY, AUGUST 12, 2026
-8:30 a.m. ET – Consumer Price Index
-2:00 p.m. ET – Monthly Treasury Statement for July
-Earnings: Cisco
-Thursday, 8:30 a.m. ET – Producer Price Index; weekly jobless claims
-Friday, 8:30 a.m. ET – Retail sales
-Friday, 10:00 a.m. ET – University of Michigan Consumer Sentiment Index (preliminary)
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