AXS Astoria Inflation Sensitive ETF

PPI

Market cap $92M

Pre-markets started today's early session slightly in the red, and have slid a tad deeper upon economic reports out an hour ahead of the opening bell. Currently, the Dow is -150 points, the Nasdaq is -140 and the S&P 500 is -28.

The “debasement trade” has been a persistent investment theme this year as the market translates trade disputes, fiscal deficits, rate policy, and geopolitical tension into a negative outlook for the fiat world, and more specifically, the U.S. dollar.

Market participants hadn't been sure we'd see additional rate cuts into the end of the year, but today's release of the September Fed minutes put that to rest.

Jobs Report Held Back Because of Government Shutdown.

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Fed Rate Cut Looms Large on the Market.

The Fed is data dependent, so that means a rate cut is ripe for the picking.

Today's Initial Jobless Claims headline seals the deal for next week's rate cut: +263K new claims.

Wednesday, September 10, 2025 This morning, we saw likely the most consequential series of data for today's stock market: the Producer Price Index (PPI) for August, the wholesale level of inflation tracked within the U.S. economy. Both headline and core month-over-month PPI came in at -0.1% — a major cool-down from what we feared was heating up in July.

Market Eagerly Awaits Inflation Reports.