WS #12095
June CPI came in at 3.5% vs 3.8% expected, core 2.6% vs 2.8%, largest monthly decline in four years; markets rallied (Nasdaq +0.9%, S&P +0.38%) on expectations Fed will hold rates steady. IBM pre-announced disappointing Q2 results with revenue, earnings, and software growth missing expectations; shares fell 25%, the biggest one-day drop in company history; Jim Cramer says not a buy. NVDA rose 4% on AI optimism and proprietary chip narrative; MSFT fell 1.5% on IBM spillover and concerns about IT spending shift away from software. New York Governor Hochul signed an executive order barring new hyperscale data centers using 50+ MW of power for up to one year, citing grid capacity and rising electricity costs.
June CPI Cooler Than Expected, Boosts Markets
June CPI came in at 3.5% vs 3.8% expected, core 2.6% vs 2.8%, largest monthly decline in four years; markets rallied (Nasdaq +0.9%, S&P +0.38%) on expectations Fed will hold rates steady.
IBM pre-announced disappointing Q2 results with revenue, earnings, and software growth missing expectations; shares fell 25%, the biggest one-day drop in company history; Jim Cramer says not a buy.
NVDA rose 4% on AI optimism and proprietary chip narrative; MSFT fell 1.5% on IBM spillover and concerns about IT spending shift away from software.
New York Governor Hochul signed an executive order barring new hyperscale data centers using 50+ MW of power for up to one year, citing grid capacity and rising electricity costs.