Wholesale prices were flat in July, below expectations for 0.2% increase

CNBC's Rick Santelli breaks down the July PPI report and weekly jobless claims. Headline PPI was flat month-over-month, below the 0.2% estimate, while core PPI rose 0.2%. Year-over-year final demand PPI fell to 4.7%, the lowest since March. Treasury yields were subdued, with the 10-year near 4.67% and the 30-year near 5.23%. - Initial jobless claims came in at 209,000, matching expectations and the highest since early July. - Continuing claims were 1.777 million, below expectations and back under 1.8 million. - July headline PPI was flat month-over-month, below the 0.2% consensus estimate. - Core PPI excluding food and energy rose 0.2%, one tenth below expectations. - PPI excluding food, energy and trade rose 0.4%, slightly warmer than the 0.3% estimate. - Year-over-year final demand PPI dropped to 4.7%, the lowest since March. - Treasury yields were subdued, with the 10-year around 4.67% and the 30-year around 5.23%.