WS #12085

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US June CPI fell 0.4% MoM (vs -0.1% est.), core CPI flat, reducing Fed rate hike expectations and boosting risk assets. IBM reported preliminary Q2 revenue and EPS below expectations due to mainframe weakness and client spending shifts, sending stock down 25%.

US June CPI Below Expectations

US June CPI fell 0.4% MoM (vs -0.1% est.), core CPI flat, reducing Fed rate hike expectations and boosting risk assets.

IBM reported preliminary Q2 revenue and EPS below expectations due to mainframe weakness and client spending shifts, sending stock down 25%.

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