PPI print, retail earnings, China's economic slowdown: 3 Things

July's Producer Price Index (PPI) came out this morning, the headline and core inflation data both rising higher than expected for the month at 0.3%. Big box retail chains Walmart (WMT) and Target (TGT) are set to report earnings next week. President Biden labeled China's economic woes "a ticking time bomb" as the world superpower undergoes an economic slowdown with signs of deflation taking hold.

Yahoo Finance's Brad Smith breaks down several of the day's top stories this morning.