Anticipated June CPI Report: Inflation Trends and Fed Rate Policy Impacts

Washington D.C., District of Columbia United States of America
Core CPI, which excludes food and energy prices, is anticipated to have risen by 0.2% monthly and maintained a yearly growth rate of 3.4%.
Federal Reserve Chair Jerome Powell expressed concerns about potential risks of rising unemployment coinciding with inflation above its 2% target.
Headline inflation is projected to decelerate slightly from May's 3.3% annual rise to a predicted 3.1% increase.
On Thursday, July 10, 2024, the Consumer Price Index (CPI) report for June will be released.
Stocks continued their upward trend with the S&P 500 surpassing the milestone of 5600 for the first time.
Anticipated June CPI Report: Inflation Trends and Fed Rate Policy Impacts

On Thursday, July 10, 2024, investors and economists will eagerly anticipate the release of the Consumer Price Index (CPI) report for June. This crucial economic indicator is expected to provide valuable insights into inflation trends and shape future Federal Reserve interest rate policy.

According to various sources, including Bloomberg data, headline inflation for June is projected to decelerate slightly from May's 3.3% annual rise, with a predicted 3.1% increase. Core CPI, which excludes food and energy prices, is anticipated to have risen by 0.2% monthly and maintained a yearly growth rate of 3.4%.

The Federal Reserve Chair Jerome Powell recently testified before the U.S. House Financial Services Committee on July 10, acknowledging that economic growth remains solid but expressing concerns about the potential risks of rising unemployment coinciding with inflation above its 2% target.

Meanwhile, stocks continued their upward trend on Wednesday, with the S&P 500 surpassing the significant milestone of 5600 for the first time. The Dow Jones Industrial Average was also climbing back toward its May highs.

Inflation data from June is expected to provide valuable context for Powell's future monetary policy decisions. If the numbers come in as anticipated, they could further bolster rate cut expectations, potentially boosting stocks even higher. However, any significant deviation from forecasted figures might lead to increased uncertainty and potential market volatility.

Oil futures also experienced a rise on Wednesday following the Energy Information Administration's report of a 3.4 million barrel drawdown in crude stocks for the previous week, adding to the oversized decline of 12.2 million barrels seen in the week before.

Stay tuned for further updates as these critical economic indicators are released and their implications unfold.


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Watch Fed Chair Jerome Powell testify live before the House financial services panel

CNBC News Jesse Pound Wednesday, 10 July 2024 13:17
  • Unique Points
    • Federal Reserve Chair Jerome Powell is testifying before the U.S. House Financial Services Committee on Wednesday.
    • He referred to the risk of keeping interest rates high damaging the economy and employment.
  • Accuracy
    • Powell acknowledged that the economy has the risk of rising unemployment and inflation above its 2% target.
    • Investors are listening for hints about when the Fed might begin to cut rates. The central bank has a meeting later this month, but traders see a cut in July as unlikely.
    • Representatives could ask about the Fed’s oversight of banks, including potential risks of commercial real estate to regional lenders.
    • Federal Reserve Chair Jerome Powell stated that the weakening labor market is becoming a bigger concern and could be pushing down on inflation, reinforcing expectations of rate cuts as soon as September.
    • Inflation data is set to be released on Thursday, which will add to the picture.
  • Deception (100%)
    None Found At Time Of Publication
  • Fallacies (100%)
    None Found At Time Of Publication
  • Bias (100%)
    None Found At Time Of Publication
  • Site Conflicts Of Interest (100%)
    None Found At Time Of Publication
  • Author Conflicts Of Interest (100%)
    None Found At Time Of Publication

99%

The overall score is a weighted number that takes into account conflict of interest, bias, deception and other practices that undermine the credibility of the source. It is calculated as:
(Site Conflicts Of Interest + Author Conflicts Of Interest) / 2.0 * 0.2 + ArticleBiasScore * 0.20 + UniquePointsScore * 0.05 + DeceptionScore * 0.20 + ReadabilityScore * 0.05 + FallacyScore * 0.20

A score that takes into consideration the content for flow, interruptions with ads, and overt search engine optimization techniques that makes the content hard to understand

Stock market today: US stocks hold near records as Powell buoys rate-cut hopes

Yahoo Finance Alexandra Canal Wednesday, 10 July 2024 19:33
  • Unique Points
    • Consumer Price Index (CPI) for June is expected to show headline inflation of 3.1% annually, a decrease from May
    • Headline CPI is projected to have risen by 0.1% monthly.
    • Core CPI, which excludes food and energy prices, is predicted to have increased by 0.2% monthly and 3.4% annually in June.
  • Accuracy
    • ]The Consumer Price Index (CPI) for June is expected to show headline inflation of 3.1% annually, a decrease from May[
  • Deception (100%)
    None Found At Time Of Publication
  • Fallacies (100%)
    None Found At Time Of Publication
  • Bias (100%)
    None Found At Time Of Publication
  • Site Conflicts Of Interest (100%)
    None Found At Time Of Publication
  • Author Conflicts Of Interest (100%)
    None Found At Time Of Publication

98%

The overall score is a weighted number that takes into account conflict of interest, bias, deception and other practices that undermine the credibility of the source. It is calculated as:
(Site Conflicts Of Interest + Author Conflicts Of Interest) / 2.0 * 0.2 + ArticleBiasScore * 0.20 + UniquePointsScore * 0.05 + DeceptionScore * 0.20 + ReadabilityScore * 0.05 + FallacyScore * 0.20

A score that takes into consideration the content for flow, interruptions with ads, and overt search engine optimization techniques that makes the content hard to understand

Stock Market Today: Dow, S&P 500, Nasdaq Up; Fed Powell House Testimony; Apple, Nvidia, Tesla, Taiwan Semi, Intuit, More Movers; Hurricane Beryl Oil Fallout

Barron's Financial Group Wednesday, 10 July 2024 19:38
  • Unique Points
    • Stocks were rising on Wednesday, with the S&P 500 topping 5600 for the first time on record.
    • Intuit plans to cut 10% of its staff in order to focus on generative AI.
    • Oil futures rose after the EIA reported a 3.4 million barrel drawdown in crude stocks for the previous week, following an oversized decline of 12.2 million barrels the week before.
    • WTI settles up 0.8% at $82.10, and Brent rises 0.5% to $85.08.
    • The Dow was climbing back toward its May high by rising 202 points, or 0.5%, on Wednesday.
  • Accuracy
    No Contradictions at Time Of Publication
  • Deception (100%)
    None Found At Time Of Publication
  • Fallacies (95%)
    The article contains some inflammatory rhetoric and an appeal to authority, but no formal or informal fallacies are explicitly stated. The author states that 'Many facilities in the Gulf coast region may be cranking up runs ahead of what could be an unusually active hurricane season underscored by recent Hurricane Beryl.' This is a form of inflammatory rhetoric as it implies that the hurricane season will definitely be unusually active, but it does not provide any evidence to support this claim. The author also quotes Bill Gross stating that 'Tesla has been behaving more like a meme stock lately.' This is an appeal to authority as the author is using the opinion of another person as evidence, but no formal fallacy is committed if the quote is taken out of context or if it does not affect the overall argument. No formal fallacies are explicitly stated in the article.
    • ]Many facilities in the Gulf coast region may be cranking up runs ahead of what could be an unusually active hurricane season underscored by recent Hurricane Beryl.[/
  • Bias (100%)
    None Found At Time Of Publication
  • Site Conflicts Of Interest (100%)
    None Found At Time Of Publication
  • Author Conflicts Of Interest (0%)
    None Found At Time Of Publication