WS #12117
June PPI unexpectedly declined 0.3% MoM (vs 0.0% est), YoY 5.5% (vs 6.2% est), the first drop in nearly a year, driven by falling gasoline prices as US-Iran tensions eased, reinforcing disinflation and supporting a Fed pause. IBM was downgraded at Oppenheimer after a 25% stock plunge on weak Q2 preliminary results, with software growth thesis delayed. Alibaba's US-listed shares rose 4% premarket after confirming its Qwen AI model will be integrated into Apple Intelligence on China iPhones, boosting both BABA and AAPL.
June PPI Miss Disinflation Boost
June PPI unexpectedly declined 0.3% MoM (vs 0.0% est), YoY 5.5% (vs 6.2% est), the first drop in nearly a year, driven by falling gasoline prices as US-Iran tensions eased, reinforcing disinflation and supporting a Fed pause.
IBM was downgraded at Oppenheimer after a 25% stock plunge on weak Q2 preliminary results, with software growth thesis delayed.
Alibaba's US-listed shares rose 4% premarket after confirming its Qwen AI model will be integrated into Apple Intelligence on China iPhones, boosting both BABA and AAPL.