WS #12039
June CPI came in well below expectations (headline -0.4% MoM vs -0.1% est., core 0.0% MoM vs +0.2% est.), reducing July Fed hike probability to ~20% and boosting Treasuries and risk assets. IBM pre-announced Q2 revenue below estimates, shares down ~23% pre-market (worst since 1987), dragging enterprise software peers (NOW, CRM, ADBE) as customers shift spending to AI infrastructure.
US June CPI Disinflation Surprise
June CPI came in well below expectations (headline -0.4% MoM vs -0.1% est., core 0.0% MoM vs +0.2% est.), reducing July Fed hike probability to ~20% and boosting Treasuries and risk assets.
IBM pre-announced Q2 revenue below estimates, shares down ~23% pre-market (worst since 1987), dragging enterprise software peers (NOW, CRM, ADBE) as customers shift spending to AI infrastructure.