"At the core level, declines in [import] prices are unlikely to be significantly felt at the consumer level"
- Peter Newland, an economist with Barclays Capital
Import prices in the world's largest economy unexpectedly fell for a fourth straight month in July, pushed down by lower fuel and consumer goods prices. Overall import prices retreated 0.6 per cent, after declining 2.4 per cent in June, said the Labor Department on Friday.
Even with import prices sagging, "people are still going to wonder whether the Fed will embark into another round of quantitative easing," said Robbert Van Batenburg, head of global research at Louis Capital Markets.
"At the core level, declines in prices are unlikely to be significantly felt at the consumer level," said Peter Newland, an economist with Barclays Capital in New York.
The Standard & Poor's 500 gained 0.22% to 1,405.87. The Dow Jones Industrial Average advanced 0.32%, or 42.76 points, to 13,207.95. The Nasdaq Composite advanced 0.07% to 3,020.86.
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