A lower-than-expected producer inflation report sparked bullish sentiment in Tuesday’s premarket trading, as traders increased their bets on a larger Federal Reserve interest rate cut next month. In July, the headline Producer Price Index (PPI) for final demand edged up by 0.1% month-over-month, slowing from June’s 0.2% increase and missing economists’ expectations of a 0.2% rise, according to TradingEconomics. On an annual basis, the PPI climbed by 2.2% compared to July 2023, down sharply from 2.7% in the previous month and below the anticipated 2.3%. The core PPI, which excludes food, energy, and trade services, remained flat month-over-month, falling short of the expected 0.2% increase and decelerating from June’s revised 0.3% growth. Annually, the core PPI increased by 2.4%, down from the previous 3% and below the forecasted 2.7%. Before the ...