Wall Street is scrutinizing the Consumer Price Index (CPI) report for June, which will provide key information on the state of inflation. The CPI data showed that inflation fell 0.1% month-on-month, while experts had expected a 0.1% increase for the month. Prices rose 3.0% annually, below the expected 3.1%.
The data shows the market is pricing in rate cuts by the end of the year as the Federal Reserve continues to consider timing. The Nasdaq Composite Index (^IXIC) and S&P 500 (^GSPC) closed at all-time highs on Wednesday, and investors are watching to see how the announcement will affect the indexes’ gains. As consumer spending remains in focus, shares of retailer Costco (COST) are soaring after the company said it will increase membership fees for the first time in seven years. Meanwhile, shares of Delta Air Lines (DAL) are falling after second-quarter profits and third-quarter guidance fell short of analysts’ expectations.
Trending stocks on Yahoo Finance include SoundHound AI (SOUN), HubSpot (HUBS) and Nio (NIO).
The featured guests are:
9:00 AM ET – Mark Zandi, chief economist at Moody’s Analytics
9:45 a.m. ET – Nicholas Owens, Morningstar Industrial Equity Analyst
10:00 AM ET – Krishna Memani, CIO, Lafayette College
10:45 AM ET – Kyle Stanford, Chief VC Analyst, PitchBook
11:20 AM ET – Ken Mahoney, CEO of Mahoney Asset Management