Beat the street: Flat US CPI; Fed double whammy
Flat US May CPI may give investors hope that inflation pressures are finally easing. Consumer price growth is still probably too high for the Fed, which concludes its policy meeting on Wednesday, to warrant September rate cuts.
Investors brace for the FOMC's latest economic projections.
(AI Video Summary)
Flat US CPI data
In today's edition of "Beat the street", the focus is on trading strategies spearheaded by CPI data. Notably, with the CPI showing a slight dip to 3.4%, Wall Street experienced a modest rise, hinting at eased pressure on the Fed regarding immediate rate hikes. Chris Vecchio of tastylive discusses forecasted adjustments in rate cuts, emphasising ongoing Fed data dependency and potential impacts on future decisions.
Share price news
Discussions also include Oracle's fruitful revenue forecast and potential retaliatory tariffs on European car imports by China, impacting stock evaluations for EV makers like Tesla. The trading session wrapped up indulging in possible shifts in oil market dynamics and sector-specific stock movements, particularly in tech giants like Apple.
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