Producer prices rose sharply in July, federal data shows, dashing President Donald Trump's hopes that the Federal Reserve would cut rates in September as he has been demanding. Newsweek has contacted the White House for comment.

A jump in wholesale prices is likely to bolster concerns among Federal Reserve policymakers that rising inflation remains a risk, intensifying debate over the wisdom of a rate cut at their September meeting and leaving the tension between the U.

Crypto Remains in the Spotlight: Investors continue to buy all things crypto. Bullish (BLSH) went public in an IPO yesterday, with its stock soaring from its offer price of $37 to $68 – an 84% gain – but shares had been as high as $118, a 219% rise. BLSH is up another 13% in premarket trading.