Overview

• U.S. producer prices jumped 0.9% month-over-month in July, marking the biggest monthly increase since June 2022.
• CME FedWatch odds for a 50-basis-point cut in September were eliminated and probabilities for a 25-basis-point reduction fell to about 92%.
• Berkshire Hathaway’s disclosure of more than 5 million UnitedHealth shares sparked an 11% rally in UNH and helped the Dow hit a new intraday record.
• Applied Materials’ weaker revenue guidance drove a sell-off in semiconductor equipment stocks, dragging the Nasdaq and tech benchmarks lower.
• Canada’s TSX Composite ended the week lower on concentrated tech losses led by Shopify, while markets tracked the Trump–Putin summit in Anchorage for signals on sanctions and trade.