Reports now that the person in custody after Kirk shooting was not the shooterUS stocks close mixed. Nasdaq and S&P close higher and at new recordsThe risk trade is fading as the day extendsAmerican conservative commentator Charlie Kirk shot at campus eventIt's not as simple as assuming rate cuts mean lower long-term ratesKlarna shares open at $52 per share and pop before losing groundUS sells 10-year notes at 4.033% vs 4.046% WIPres. Trump appeals court ruling blocking removal of Fed Gov. CookAtlanta Fed GDPNow growth estimate for Q3 rises to 3.1% from 3.0% previouslyEuropean indices close mixed on the day. S&P and NASDAQ on pace for record closesElon Musk is no longer the world's richest man as Oracle shares soar 42%Oil prices pop by 50-cents after Trump tweets about Russia violating Poland's airspaceEIA weekly crude oil inventories +3939K vs -1040K expectedFed nominee Miran advances nomination along party linesUS July wholesale sales +1.4% vs +0.2% expectedTrump is out with the usual rant about Powell not cutting ratesUS August PPI final demand 2.6% vs 3.3% expectedSNB's Chairman Schlegel: US dollar is still absolutely the dominant currencyUSD is little changed vs the major currencies as the US session begins and war fears riseinvestingLive European markets wrap: Gold stays bid, currencies muted; US PPI up nextThe US PPI data for August came in lower than expectations with the month-to-month headline number falling by -0.1% and the ex food and energy also falling by -0.1%. Year-on-year measures were also lower with the headline coming in at 2.6% versus 3.3% expected, and 2.8% versus 3.5% for the ex food and energy. The US dollar initially fell on the news, but is closing the day mixed. Tomorrow, the US CPI data will complete the picture for the month of August ahead of the FOMC rate decision next week. The CPI is expected to show a gain of 0.3% for both the headline and the core readings. Year- on year, the headline is expected at 2.9% versus 2.7%, and 3.1% – unchanged from last month.A look at the changes of the major currencies versus the US dollar shows:EUR +0.09%JPY unchangedGBP -0.02%CHF +0.20%CAD +0.13%AUD -0.50%NZD -0.29%Later, U.S. wholesale sales in July rose 1.4%, well above the 0.2% gain expected and stronger than the prior month’s +0.3%. Inventories, however, increased by just 0.1%, a touch softer than both expectations and the previous +0.2%. While this is considered a lower-tier economic release, wholesale inventories feed directly into GDP calculations and can drive meaningful short-term swings—particularly given the ongoing cycles of stockpiling and de-stocking tied to tariffs,US GDP estimates from the Atlanta Fed rose to 3.1% from 3.0%.The U.S. Treasury today auctioned off $39 billion of 10-year notes led by strong demand from foreign investors. They took a whopping 83.13% well above the 71.1% 6 month average. The tail was -1.3 basis points. The bid to cover was 2.65X versus 2.56X six-month average.US yields close mixed with a flatter yield curve. The 10-year yield fell -3.0 basis points to 4.043%. That is near the lows from Monday. A note on the shooting and the death of conservative advocate Charlie Kirk. Charlie was married to a classmate of one of our sons. He and Charlie Kirk's wife Erika, both went to school at a Catholic high school in Scottsdale Arizona. His politics was controversial to me at times. Other times, he made sense. The reason was he was an excellent debater. He did his homework. He understood his strengths, and although he was intense and at times not relenting, that was part of the game.It's sad – very sad – and I hope that there is peace that can be found in the sorrow. I hope that hate, does not grow as a result of some crazy person, but love and unity prevails. Make it a wake-up call for love, not hate.I pray for his wife, and his two children. Let there be peace on earth. This article was written by Greg Michalowski at investinglive.com.