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.
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.
Collection
[
|
...
]