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A measure of wholesale prices showed no change in September, pointing to a continued easing in inflation, the Labor Department reported Friday.The producer price index, which measures what producers get for their goods and services, was flat for the month and up 1.8% from a year ago. Economists surveyed by Dow Jones had been looking for a monthly gain of 0.1% after August's increase of 0.2%.Excluding food and energy, the PPI rose 0.2%, meeting expectations, and was up 2.8% from a year ago.The report comes a day after the Labor Department reported that the consumer price index, a more widely followed inflation measure that shows what consumers actually pay for goods and services, had an increase of 0.2% for the month and 2.4% from a year ago.Markets showed little immediate reaction to the d...

Andrew Feldman, co-founder and CEO of Cerebras Systems, speaks at the Collision conference in Toronto on June 20, 2024.Ramsey Cardy | Sportsfile | Collision | Getty ImagesAI chipmaker Cerebras is trying to be the first major venture-backed tech company to go public in the U.S. since April and to capitalize on investors' insatiable demand for Nvidia, now valued at $3.3 trillion.While its position in artificial intelligence infrastructure represents a major tail wind, Cerebras has challenges — most notably a hefty reliance on a single Middle Eastern customer — that may prove too weighty to overcome in the company's attempt to ride the Nvidia wave. Valued at $4 billion in 2021, Cerebras is reportedly seeking to roughly double that in its IPO."There's too much hair on this deal," David Golden,...

Investors who fear stubborn inflation, if not an outright rebound, got a bit of a salve on Friday morning. Wholesale prices showed no change month over month for September, coming in below expectations. The producer price index report may help offset some of the slight concerns about Thursday's consumer price index report, which was a bit hotter than expected. The details within the reports are another reason to stay calm, David Seif, chief economist for developed markets at Nomura Securities, said on " Squawk Box ." "The key thing for the Fed is their preferred measure of inflation, core PCE. And when you actually look at the components of yesterday's print and just looking over today's PPI print that go into that core PCE, it actually looks pretty good," Seif said. The personal consumpti...

Here are the biggest calls on Wall Street on Friday: Bank of America reiterates Broadcom as buy Bank of America says the that Broadcom remains a top pick at the firm following a series of investor meetings. "As expected, the meeting focused on AVGO's growing AI opportunity, around $12bn or 24% of sales in FY24, with a longer-term TAM [total addressable market] of $100-$125bn, focused largely on growing internal workloads." UBS reiterates Advanced Micro Devices as buy UBS called AMD's AI event on Thursday a "mixed bag" but says it's sticking with the stock. "AMD's AI event was, in our view, a bit of a mixed bag that doesn't likely sway the debate a whole lot in either direction." Wells Fargo upgrades Affirm to overweight from equal weight Wells called the fintech payment company a "structur...