Inflation cools; markets edge higher on earnings season in focus
TL;DR Summary
U.S. stock futures drift near flat as cooler June inflation cools expectations for aggressive Fed tightening, with CPI at 3.5% and July rate-hike odds around 17%; Asia markets rose on the news, led by South Korea’s Kospi. In the U.S., strong results from JPMorgan, Bank of America, Citi, Wells Fargo and Goldman Sachs buoyed stocks, while IBM tumbled 25% on weak guidance and Pentair fell 14% after prelims. Earnings from United Airlines, Morgan Stanley, Johnson & Johnson and BlackRock were set to be released next.
- Stock futures are flat after soft inflation reading lifts market: Live updates CNBC
- Inflation Slowed to 3.5% in June, as Americans Got a Break From Gasoline Prices WSJ
- Inflation cooled off in June as energy prices slid Yahoo Finance
- Consumer inflation cooled more than expected in June as gas prices fell Fox Business
- US stocks rise after data shows slowing inflation, even as IBM plunges AP News
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