- The US CPI inflation report showed a 2.9% year-over-year increase, slightly below the 3.0% forecast. Headline inflation rose 2.7% year-over-year. Signs of tariffs impacting prices for core goods are evident, with declining car prices offsetting the impact. Today’s report makes a rate cut at the 30 July FOMC meeting unlikely.
- Nvidia now accounts for 3% of the global market cap, with 82,292 other stocks making up the remaining 97%. JPMorgan Chase surpassed expectations with second-quarter earnings, despite a 17% drop to $14.9 billion. Will volatility make a comeback this summer?
- France is implementing an ambitious reform agenda to reduce its budget deficit. Germany’s declining global trade share is attributed to competitiveness losses. The 500-day trading strategy on Bitcoin remains on track, with the last halving occurring on 20 April.
Read more at Investing.com: Core CPI Cools, Headline Heats: July Rate Cut Off the Table