US core CPI posts first monthly drop in over six years

Reuters··Read original
4▲1 ▼1Impact / 5
Summary · why it matters

US core consumer prices fell 0.02% in June, the first monthly decline in more than six years, pulling the annual core inflation rate down to 2.6%. The surprisingly soft reading nearly erased futures-market odds of a Federal Reserve rate hike this month and sent Treasury yields sharply lower. Fed Chair Kevin Warsh reiterated the central bank’s commitment to returning inflation to its 2% target during congressional testimony. The corporate earnings season also began, with Goldman Sachs surging 9% on strong trading and IPO fees, while IBM plunged 25% after missing estimates and warning that AI spending is cannibalizing software budgets.

Impact on assets 3

Financials▲ · 1 stocks
Quantum Computing▼ · 1 stocks
Semiconductors▲ · 1 stocks