Wednesday, March 18th, 2026
The large information this morning is an unexpectedly scorching inflation report. The Producer Value Index (PPI) for February greater than doubled estimates on headline, month over month: +0.7% for wholesale inflation final month — forward of the consensus +0.3% and the unrevised +0.5% for January. That is the fourth-straight increased headline PPI print, and the loftiest determine since July of final yr.
Stripping out unstable meals and vitality costs, core PPI nonetheless is available in hotter than anticipated, by 20 foundation factors (bps) to +0.5%. That is really down from the earlier month, which was revised up half a full proportion level to +0.8%. Ex-food, vitality and commerce got here in at +0.5% as effectively, above the +0.3% projected and revised +0.4% from January.
Most analysts spend extra time on year-over-year numbers, and right here we’re warming up, too: +3.4% on headline PPI is +0.5% increased than the prior month, and the most well liked we’ve seen since January of 2025. Identical with core PPI: +3.9% is the very best in 13 months, and after three-straight months hitting +3% precisely, we’ve now escalated on core PPI for 3 months in a row. Ex-food, vitality and commerce reached +3.5%, a mere +0.1% increased than the prior print.
Couple this with final week’s Private Consumption Expenditures (PCE) report, which notched over +3%, and we see the Fed having a tough time chopping rates of interest within the present inflationary surroundings. (Fed Chair Jerome Powell offers his penultimate post-FOMC assembly press launch at this time round 2:30pm ET.) And that is earlier than we contemplate how the assaults on Iran resulting in the closure of the Strait of Hormuz have affected oil costs thus far this month.
Earnings Stories for Right now: M, GIS & Extra
Forward of at this time’s open, Macy’s M beat estimates in its This fall report, with earnings of $1.67 per share simply surpassing the $1.53 within the Zacks consensus, for a +9.15% optimistic shock. Revenues of $7.64 billion within the quarter got here forward of estimates by +1.53%, although are nonetheless decrease than the year-ago quarter. Shares had zoomed increased by +9%, however have ebbed since. And the inventory continues to be digging out of a -23% gap yr to this point. For extra on M’s earnings, click on right here.
Common Mills GIS reported fiscal Q3 outcomes this morning, however missed expectations. Earnings of 64 cents per share got here up a dime shy of the Zacks consensus, whereas revenues of $4.44 billion missed by -0.94%, and have been down from the $4.84 billion reported a yr in the past. Shares are down -1.5% within the pre-market on the information. For extra on GIS’ earnings, click on right here.
After at this time’s shut, we’ll see fiscal Q2 earnings outcomes from Zacks Rank #1 (Robust Purchase)-rated Micron MU, which is anticipated to ship jaw-dropping features of +464% on earnings yr over yr and +139.7% on revenues. This is without doubt one of the prime chipmaking AI performs, and shares are up +62% thus far in 2026.
Specialty low cost retailer 5 Under FIVE additionally reviews earnings after at this time’s closing bell. This Zacks Rank #2 (Purchase)-rated firm is anticipated to fetch +14.7% features on earnings yr over yr and +22.9% on revenues. Its shares have gained practically +14% thus far this yr.
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Macy’s, Inc. (M) : Free Inventory Evaluation Report
Common Mills, Inc. (GIS) : Free Inventory Evaluation Report
Micron Know-how, Inc. (MU) : Free Inventory Evaluation Report
5 Under, Inc. (FIVE) : Free Inventory Evaluation Report
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The views and opinions expressed herein are the views and opinions of the creator and don’t essentially replicate these of Nasdaq, Inc.
