"The U.S. Bureau of Labor Statistics reported Tuesday morning that the consumer price index rose 0.3% in June, which is exactly what economists had predicted would happen."
"Core inflation, which excludes food and energy costs, was both better and worse, up only 0.2% for the month of June, but tracking for 2.9% annual inflation."
"Wells Fargo reported $1.60 per share in profit, $0.20 better than expected, signaling strong banking sector earnings."
"Citigroup reported $1.96 per share in Q2 profits, $0.35 better than expected, and revenue also exceeded expectations."
The U.S. Bureau of Labor Statistics reported a 0.3% rise in the consumer price index for June, leading to an annual inflation rate of 2.7%. Core inflation, excluding food and energy, increased by 0.2% that month, resulting in a 2.9% annual inflation rate. Major bank earnings for Q2 showcased profits from Wells Fargo at $1.60 per share, Citigroup at $1.96, and JPMorgan Chase at $4.96, all surpassing expectations. Notable company upgrades include Otis Worldwide and Zimmer Biomet, indicating positive analyst sentiment.
Read at 24/7 Wall St.
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