BC-APFN-Money & Markets Digest
Money & Markets modules for Wednesday, July 11
The Commerce Department issues its monthly snapshot of U.S. wholesale business inventories. The Labor Department releases its latest gauge of prices that producers receive for their goods and services. Fastenal reports quarterly results.
PepsiCo shares jumped to a four-month high after Frito Lay’s sales growth in North America helped offset weakness in the Gatorade and Mountain Dew maker’s beverage division.
No matter how many challenges get thrown at the stock market, one pillar of support is helping to prop it up: corporate profits continue to soar.
J.M. Smucker (SJM)
Simply Good Foods (SMPL)
Ameriprise Financial (AMP)
Marten Transport (MRTN)
PGIM Short-Term Corporate Bond (PBSMX)
Despite taking on more credit and interest-rate risk than its category, the fund has “sidestepped major trouble,” Morningstar said, earning an analyst rating of “Silver.”
For questions about Money & Markets modules, please contact Greg Keller (212-621-7958). For technical support: contact Todd Balog (816-654-1096). After 6 p.m., contact the AP Business News desk (800-845-8450, ext. 1680) for content questions; 1-800-3AP-STOX for technical support and 212-621-1905 for graphics help. The Money &Markets digest can also be found at www.markets.ap.org.