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Wholesale Used Car Prices Rise, Pointing to Higher Inflation
One of the most closely watched leading indicators of inflation on Wall Street has hit a record high, a sign that upward pressure on prices could last for months to come. The prices that dealers pay for used cars in the wholesale market jumped 5.3 percent from August to September, according to the Manheim Used Vehicle Value Index. It’s up 27.1 percent from last year. Used car prices have soared since the pandemic hit, when production snarls at automakers cut the supply of new vehicles as many Americans left urban centers for the suburbs, pushing up demand for personal vehicles.
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Natural Gas Futures Probe Higher Early as Temps Next Week Seen Trending Hotter
Forecasts advertising hotter-trending temperatures in the near term helped natural gas futures continue to probe higher in early trading Friday. The July Nymex contract was up 1.3 cents to $3.431/MMBtu at around 8:45 a.m. ET. The updated forecast as of early Friday showed hotter trends for the next week or so, according to Bespoke Weather Services. “This is in response to models backing the incoming trough more into the Plains and western Midwest, allowing for a stronger period of upper level ridging in the East and hotter temperatures at the surface, including a couple of days with mid 90s highs
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