WS #12093
US June CPI came in at 3.5% YoY, below expectations, reducing odds of a Fed rate hike in July; markets rally on rate pause hopes. IBM plunges ~25% after pre-announcing weak Q2 results, citing shift in enterprise IT spending from software to AI hardware and cybersecurity.
US Inflation Data and Fed Policy
US June CPI came in at 3.5% YoY, below expectations, reducing odds of a Fed rate hike in July; markets rally on rate pause hopes.
IBM plunges ~25% after pre-announcing weak Q2 results, citing shift in enterprise IT spending from software to AI hardware and cybersecurity.