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☆ Inflation milestone: Consumer Price Index slows below 3% for first time since March 2021
▼ + stars: | 2024-08-14 | by ( Alicia Wallace | ) edition.cnn.com time to read: +2 min

CNN —Price hikes slowed more than expected in July, and, for the first time in more than three years, the Consumer Price Index has landed below 3%. Consumer prices rose 2.9% for the 12 months ended in July, slowing from June’s 3% annual gain, according to the Bureau of Labor Statistics’ latest CPI report released Wednesday. On a monthly basis, prices rose 0.2% after posting a 0.1% decline the month before. Economists were expecting a 0.2% monthly increase and an annual rise of 3%, according to Fact Set consensus estimates. Core CPI inflation is now running at its slowest pace since April 2021.

Persons: CNN — Organizations: CNN, Federal Reserve, Bureau of Labor Statistics ’

☆ A millennial couple with a $1.2 million net worth explains how they both plan to retire by 35
▼ + stars: | 2024-08-14 | by ( Noah Sheidlower | ) www.businessinsider.com time to read: +9 min

They've managed to do all that while never making more than about $200,000 combined in yearly income from work. "We got our first house young, but we didn't buy all new furniture; we furnished it with hand-me-downs and thrift store finds," Wallace said. Between their three homes, which total $1.9 million in value, they have about $850,000 in equity, and they don't plan on paying them off early as interest rates on them are below 3.5%. Becoming millionairesThey hit their first half-million in 2021 and became millionaires in 2022, bringing their net worth above $1.2 million this year. They both plan on retiring in four years but anticipate working in part-time roles that better align with their passions.

Persons: Andrea Wallace, They've, Wallace, we've, Roth IRAs, they've, they're Organizations: Service, Business, FI, FIRE, Hallmark, Arizona State University, Lean FIRE Locations: Phoenix, California

☆ A key inflation gauge showed price hikes slowed last month. But economic jitters remain
▼ + stars: | 2024-08-13 | by ( Alicia Wallace | ) edition.cnn.com time to read: +2 min

CNN —US wholesale inflation slowed as expected in July, easing after an unexpected flare-up the month before. On a monthly basis, prices rose 0.1%, a slower pace than the 0.2% increase seen in June. Economists had expected that prices would increase 0.2% on a monthly basis and slow to 2.3% annually, according to FactSet estimates. The modest monthly increase in the overall PPI was attributed to a 0.6% jump in goods prices, according to the BLS report. When stripping out energy and food prices — categories that also tend to be volatile — core PPI prices were flat for the month, bringing down the annual gain to 2.4%, its lowest since March.

Persons: Price Organizations: CNN, of Labor Statistics, PPI, BLS, CPI

☆ How are you approaching your back-to-school spending?
▼ + stars: | 2024-08-09 | by ( Alicia Wallace | ) edition.cnn.com time to read: 1 min

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☆ What it means to have a ‘Black job’ in America
▼ + stars: | 2024-08-04 | by ( Alicia Wallace | ) edition.cnn.com time to read: +5 min

Still, the discussion comes as Black workers have made significantly positive — and, in many cases, historic — employment advancements. “So, to suggest that immigration is lowering the black employment rate is just not bearing out, based on this superficial look at the facts,” Algernon said. The pandemic recovery and economic expansion since has resulted in wage gains for many workers, and that has included Black workers, she noted. “We talk a lot about the 2-to-1 ratio between Black and White unemployment (the Black unemployment rate typically is twice the White unemployment rate), so, the progress has been marginal in terms of that disparity.”In July, the unemployment rate for White workers was 3.8% (versus 6.3% for Black workers). “For example, according to BLS data, Black workers are just 12.8% of all employed Americans, but 48.4% of postal service workers, 38.1% of nurse assistants, and 36.1% of security guards,” Pollak said.

Persons: Donald Trump, Trump, ”, Algernon Austin, ” Algernon, there’s, that’s, It’s, Valerie Wilson, ” Wilson, “, Julia Pollak, ZipRecruiter, ” Pollak Organizations: CNN, National Association of Black Journalists, Black, Center for Economic, Research, of Labor Statistics, Baby Boomers, BLS

☆ In a tricky box office summer, how can indie cinemas survive?
▼ + stars: | 2024-08-03 | by ( Alicia Wallace | ) edition.cnn.com time to read: +11 min

Minneapolis CNN —For 90-plus years, the Parkway Theater has been a fixture in South Minneapolis, gathering generation after generation of patrons in front of its lone movie screen. The Parkway Theater of today is one part revival house cinema, one part performing arts venue, and another part community event space. Parkway Theater owners Ward Johnson (left) and Eddie Landenberger in the theater lobby in Minneapolis on July 8. Moviegoers at a drive-in movie theater in the parking lot of the Rose Bowl in Pasadena, California, on September 3, 2020. Still, cinema operators have to be cautious in their approach, said Kate Markham, administrative coordinator with Art House Convergence, a coalition of independent, community-oriented cinemas.

Persons: David Hancock, Omdia’s, “, ” Hancock, “ Young Frankenstein ”, moviegoing, ”, Ward Johnson, Eddie Landenberger, Christian Meoli, —, Ricard Gil, Michael Tullberg, ” Gil, “ Barbie, Ward, Alicia Wallace, ” Johnson, ” Andrew Sherburne, “ We’re, Meoli, there’s, showmen, Bing Guan, ’, Bill Campbell, showmen ”, Rich Daughtridge, they’ll, ” Campbell, Kate Markham Organizations: Minneapolis CNN —, Parkway, CNN, Omdia, Theater, Cinelounge, Wim, Queen’s University, Disney, El Capitan Theatre, Hollywood, Global Entertainment, Media, Blockbuster, Rose Bowl, Bloomberg, Independent Cinema Alliance, Orpheum, ICA, Art, cineplex Locations: Minneapolis, South Minneapolis, London, California, Canada, Los Angeles , California, —, Iowa City , Iowa, That’s, Tiburon , California, Pasadena , California, Covid, Sheridan , Wyoming, Maryland

☆ 3 reasons to worry about July’s weak jobs report — and 1 reason not to panic
▼ + stars: | 2024-08-03 | by ( Bryan Mena | ) edition.cnn.com time to read: +8 min

The Federal Reserve now has egg on its face after it kept interest rates near a quarter-century high earlier this week. By now, there’s ample evidence that the job market, a key driver of the US economy, has lost steam. Here are three reasons to be worried about July’s shockingly weak jobs report — and one silver lining. Consumer demand itself also hasn’t weakened just yet, despite the highest interest rates in more than two decades. Generally, the Fed makes its decision congruent with what’s going on with inflation or the job market.

Persons: , July’s, ’, ”, Claudia Sahm, Sahm, Elizabeth Crofoot, Alicia Wallace, Jerome Powell, ” Crofoot, ” Michael Gapen, Matt Egan, weren’t, ” Truist’s Keith Lerner, they’ll, hasn’t, ” Chris Rupkey, Alan Blinder, Paul Krugman Organizations: New, New York CNN, Federal Reserve, Fed, Bloomberg, Bank of America, Dow, Nasdaq, Wall, Investors, Labor, Citigroup, JPMorgan Locations: New York, decelerate, American

☆ There are cracks forming in the US jobs market
▼ + stars: | 2024-08-02 | by ( Alicia Wallace | ) edition.cnn.com time to read: +9 min

CNN —The pandemic threw the US job market into chaos, but four years later, things finally seem to be back to normal. Most indicators support the idea that the labor market is no longer overheated and could easily maintain a new normal of steady, but slower growth. The unemployment rate is expected to hold steady at 4.1%, according to FactSet consensus estimates. “This is a labor market that’s otherwise moderated,” Nick Bunker, director of North American economic research at Indeed, told CNN. The same goes for the prime-age labor force participation rate, which at 83.7% also is the highest in 23 years.

Persons: hasn’t, Jerome Powell, Nick Bunker, Powell, Nancy Vanden Houten, ’, “, ”, —, Madhavi Bokil, Indeed’s Bunker, Bunker, ” Elise Gould, ” Bunker, “ It’s, Julia Pollak, ” Pollak, can’t Organizations: CNN, Federal, of Labor, Challenger, Economic Policy Institute, ” Locations: Oxford

☆ Fed Chair Powell just said the labor market is getting vulnerable. Friday’s jobs report could prove why
▼ + stars: | 2024-08-01 | by ( Alicia Wallace | ) edition.cnn.com time to read: +9 min

CNN —The pandemic threw the US job market into chaos, but four years later, things finally seem to be back to normal. Most indicators support the idea that the labor market is no longer overheated and could easily maintain a new normal of steady, but slower growth. “This is a labor market that’s otherwise moderated,” Nick Bunker, director of North American economic research at Indeed, told CNN. Labor force participation/employment to population ratio: These metrics are key reasons why Bunker and others believe the labor market remains in good shape. The same goes for the prime-age labor force participation rate, which at 83.7% also is the highest in 23 years.

Persons: hasn’t, Jerome Powell, Nick Bunker, Powell, Nancy Vanden Houten, ’, “, ”, —, Madhavi Bokil, Indeed’s Bunker, Bunker, ” Elise Gould, ” Bunker, “ It’s, Julia Pollak, ” Pollak, can’t Organizations: CNN, Federal, of Labor, Challenger, Labor, Economic Policy Institute, ” Locations: Oxford

☆ The number of available jobs in the US is shrinking
▼ + stars: | 2024-07-30 | by ( Alicia Wallace | ) edition.cnn.com time to read: +1 min

That’s according to the latest Labor Department data on job openings, which edged back slightly in June. The monthly Job Openings and Labor Turnover Survey also showed that hiring activity sank, layoffs were muted and the number of people quitting their jobs hit a three-year low, according to data released Tuesday. In June, employers posted an estimated 8.18 million jobs, a total that was higher than what economists expected but marking a slight step back from the upwardly revised tally of 8.23 million openings in May. It’s the second-lowest monthly total seen so far this year. Economists were expecting job openings to shrink to 8 million, according to FactSet consensus estimates.

Persons: It’s Organizations: CNN, Labor

“This will be the first Olympics, since Sydney, where the total costs are coming in under $10 billion,” said Victor Matheson, a College of the Holy Cross professor of economics who has researched the financial costs of the Olympics. Workmen adjust banners on the 3x3 basketball venue located at La Concorde, in Paris, ahead of the 2024 Olympic Games. Additionally, the Paris Olympic Village will be converted into offices and housing in a historically impoverished neighborhood. Still, economists say, it may take more drastic moves in the future for the Olympics to be truly sustainable and economically sound. “I love the Olympics, and I love sporting events, but I just really do not think that the way the Olympics works now is a viable business model,” Phalin said.

Persons: ”, Victor Matheson, “, “ It’s, David Gray, Andrew Zimbalist, ” Zimbalist, Michael Kappeler, it’ll, Fabrice Coffrini, Zimbalist, ‘, Amanda Phalin, Christian Petersen, I’m, ” Phalin, you’ve, it’s, Andrew Medichini, shuttlecocks, Matheson, Phalin Organizations: CNN, Olympic, Paralympic Games, Paris Games, of, IOC, La Concorde, Getty, Mexico City Games, Montreal Games, Smith College, Olympics, Oxford University, Audit Board, Tokyo, Eiffel, Paris, University of Florida’s Warrington College of Business, Games, of Investment, Development Authority, French, ” Workers, Palais, AP Paris Locations: Paris, Sydney, La, AFP, Mexico, Munich, ” Los Angeles, Tehran, Beijing, Sochi, France, “, Lake Placid , New York, Lake Placid, ”, Los Angeles, Oklahoma

☆ Inflation is inching closer toward the Fed’s 2% target
▼ + stars: | 2024-07-26 | by ( Alicia Wallace | ) edition.cnn.com time to read: +1 min

CNN —Yet another favorable piece of economic data shows that price hikes are slowing and that long-unruly inflation appears to be tamed. On a monthly basis, the price index increased by 0.1%, also landing in line with expectations. Falling energy prices, which dropped 2.1% from May, continued to help put a damper on overall inflation in June, as did goods prices, which dropped 0.2%. Food and services inflation increased just 0.1% and 0.2%, respectively, for the month. Taking inflation out of the equation, real spending was still up for the month, rising 0.2%.

Organizations: CNN, Federal Reserve, Commerce Department, Commerce

☆ Fox News proposes Trump-Harris debate on Sept. 17 after Biden pulls out of race
▼ + stars: | 2024-07-24 | by ( Hadas Gold | ) edition.cnn.com time to read: +2 min

New York CNN —Fox News has proposed a presidential debate between former President Donald Trump and Vice President Kamala Harris on September 17. It’s not clear if that debate will still take place now that Biden has dropped out of the race. Trump has also expressed displeasure at ABC and has previously posted that he wants Fox News to host the debate instead of the Disney-owned network. In a conference call with reporters on Tuesday, Trump said he “absolutely” wants to debate Harris, and “would be willing to do more than one debate, actually.”“I haven’t agreed to anything. I think debating’s important for a presidential race, I really do, you sort of have an obligation to debate.”

Persons: Donald Trump, Kamala Harris, Bret Baier, Martha MacCallum, Harris, Jay Wallace, Jessica Loker, Hillary Clinton, Bernie Sanders, Pete Buttigieg, Julian Castro, Amy Klobuchar, Kirsten Gillibrand, Trump, Joe Biden’s, It’s, Biden, Joe Biden, ” Trump, she’ll, ” Organizations: New, New York CNN — Fox News, Trump, Fox News, Democratic, CNN, ABC, Disney Locations: New York, Pennsylvania

☆ Opinion | How Long Will A.I.’s ‘Slop’ Era Last?
▼ + stars: | 2024-07-24 | by ( David Wallace-Wells | ) www.nytimes.com time to read: +2 min

investments might be three times as large as expected returns, while another analyst, in several assessments published by Sequoia Capital, calculated that investments in A.I. (He called this “A.I.’s $600 billion question” and warned of “investment incineration.”) In a similarly bearish Goldman Sachs report, the firm’s head of global equity research estimated that the cost of A.I. “Replacing low-wage jobs with tremendously costly technology is basically the polar opposite of the prior technology transitions I’ve witnessed,” he noted. expenditure, more than the United States spends annually on its military, and think: What exactly is that money going toward? slop”: often uncanny, frequently misleading material, now flooding web browsers and social-media platforms like spam in old inboxes.

Persons: Goldman Sachs, ”, Erik Hoel, Anthony Aguirre “, A.I, “, slop, we’ve Organizations: Barclays, Sequoia Capital Locations: A.I, United

☆ It’s becoming harder to get — and keep — a car
▼ + stars: | 2024-07-22 | by ( Alicia Wallace | ) edition.cnn.com time to read: +6 min

Cook did the math, made a pros and cons list, and bought a new car. Courtesy Greg CookHis car — the monthly payment, the fast-rising insurance, fuel and maintenance costs — takes up a 30% share of his monthly budget. And buying a car is no cakewalk either: Credit is increasingly harder to come by and rejection rates are spiking. Instead, consumers have been presented with a higher bar, including requirements for a heftier down payment and a higher credit score, he said. More restrictive lending typically equates to approval rates going down and rejection rates rising.

Persons: Greg Cook’s, he’d, I’ve, ”, Cook, Greg Cook, “, Jeremy Robb, “ Everyone’s, Robb, David Paul Morris, they’re, repossessions Organizations: CNN, Cox Automotive, Federal Reserve Bank of New, Federal, Bloomberg, Getty Locations: Oregon, Federal Reserve Bank of New York, Richmond , California

☆ 22V Research's Kim Wallace gives insight on US states' reactions to Trump's RNC speech
▼ + stars: | 2024-07-19 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via Email22V Research's Kim Wallace gives insight on US states' reactions to Trump's RNC speechKim Wallace, 22V Research, joins 'Power Lunch' to discuss poll takeaways from Trump's speech at the 2024 Republican National Convention.

Persons: Kim Wallace Organizations: RNC, Research, Republican National Convention

☆ Thomas Crooks, Donald Trump, and the Banality of Gun Violence - The New York Times
▼ + stars: | 2024-07-17 | by ( David Wallace-Wells | ) www.nytimes.com time to read: +2 min

Eleven of the last 12 American presidents have endured an assassination attempt or a plot against their lives. The same is true for 20 of the country’s 45. Most of the recent plots have been foiled early, making the indelible image of Donald Trump fist-pumping in Pennsylvania seem like an atavistic monument or an ominous portent or perhaps both. And though we may describe the stochastic terror of the past decade in terms of ugly bumper stickers and reckless speeches, there has been real violence, not just incitement. “No political party, movement, ideology or manner of thinking has had an absolute monopoly on this violence, and it really hasn’t mattered whether the surrounding political atmosphere was aggressive or docile,” Dayen wrote.

Persons: Donald Trump, David Dayen, Gerald Ford, Ronald Reagan, Bill Clinton’s, Barack Obama’s, Donald Trump’s, Gabrielle Giffords, Steve Scalise, hasn’t, ” Dayen, “ Organizations: The, White, Financial Times, Republican National Convention Locations: Pennsylvania

☆ Is Maddow in Milwaukee? No, That’s an LED Screen on MSNBC.
▼ + stars: | 2024-07-17 | by ( Michael M. Grynbaum | ) www.nytimes.com time to read: 1 min

MSNBC’s prime-time coverage of the Republican National Convention has featured a typical TV tableau: anchors at a desk perched high above the convention floor, pontificating as the starred-and-striped political pomp unfolds below. But Rachel Maddow, Nicolle Wallace, Jen Psaki, Joy Reid and the rest of MSNBC’s A-list anchor team have not been inside the convention hall. They were not even in Milwaukee. Instead, they were broadcasting from a studio in Midtown Manhattan, as a live feed of the convention floor was projected onto an LED screen behind them.

Persons: Rachel Maddow, Nicolle Wallace, Jen Psaki, Joy Reid Organizations: Republican National Convention Locations: MSNBC’s, Milwaukee, Midtown Manhattan

☆ Here’s why people have fond memories of the Trump economy
▼ + stars: | 2024-07-16 | by ( Tami Luhby | Alicia Wallace | ) edition.cnn.com time to read: +9 min

CNN —In 2018, Jonathan and Trista Schmier felt the economy was so strong that they could take a big risk. “The customers got very, very upset.”Trista and Jonathan Schmier felt confident enough about the economy during the Trump administration to open a small chain of restaurants. Poll after poll show that voters have more faith in Trump’s ability to handle the economy than President Joe Biden’s. By many measures, however, the economy under Biden — who took office while the pandemic was still underway — has also been strong. “I trust the other guy better,” said Southworth, 74, referring to Trump, whom he voted for in 2016 and 2020.

Persons: Jonathan, Trista Schmier, Angus, ”, Jonathan Schmier, ” Trista, Trump, Andrew Craft, Donald Trump, Joe Biden’s, Biden, Carroll Doherty, Doherty, Trump’s, Barack Obama, Biden —, —, Bernard Yaros, ’ paychecks, Jimmy Carter, ” Yaros, Yaros, Ted Southworth, Ted, Rebecca Southworth, Ted Southworth Southworth, Southworth, Becky Cantrell, Cantrell Organizations: CNN, Fayetteville Observer, USA, Pew Research Center, Biden, Black Americans, Census Bureau, Oxford Economics, Trump Locations: Burger, Fayetteville , North Carolina, Burlington , North Carolina, , Florida

☆ Shelley Duvall is remembered for being the perfect victim. But she was so much more
▼ + stars: | 2024-07-13 | by ( Dan Heching | ) edition.cnn.com time to read: +5 min

Sadly, that victim identity was only reinforced in the mid-2010s, when Duvall appeared on an episode of “Dr. Phil” episode with a ratings-bait title, the then 67-year-old actress made confusing claims and was apparently struggling with her mental health. Shelley Duvall, Herve Villechaize, on set, in May 1982, "Rumplestiltskin," for "Faerie Tale Theatre." It was buoyed, however, by Duvall, whose unique charm and childlike whimsy as host and presenter of each tale was the perfect fairy dust. A reminder to perhaps not focus so much on her elusiveness, but on the legacy of Duvall’s work – which was there all along.

Persons: Shelley Duvall, Wendy Torrance, Jack Nicholson’s, Stanley Kubrick’s, Stephen King, ”, Duvall, Dr, Phil ”, –, Anjelica Huston –, Nicholson, Huston, “, Shelley, shortchange, Wendy –, ” Duvall, Robert Altman, Herve Villechaize, Richard Hewett, TVG, Mia Farrow, Vivian Kubrick –, Phil, CNN’s Chris Wallace, Gen Xers, Helen Mirren, James Earl Jones, Treat Williams, Terri Garr, Gena Rowlands, Francis Ford Coppola, Tim Burton, Steve Martin’s, Dixie, Cyrano de Bergerac, “ Roxanne, Martin plumbs Organizations: CNN, Hollywood, Everett, New York Times Locations: London, Colorado

☆ The big change that could come for the economy in September
▼ + stars: | 2024-07-12 | by ( Krystal Hur | ) edition.cnn.com time to read: +5 min

Wall Street’s expectations for a September rate cut rose to roughly 93% on Thursday from 73% the day before, according to the CME FedWatch Tool. “A September rate cut should be a done deal at this point,” wrote Ron Temple, chief market strategist at Lazard, in a Thursday note. Some economists worry that if the Fed doesn’t cut rates by then, cracks could begin to deepen in the labor market. A September rate cut “may not be the magic elixir some investors are seeking,” wrote Brent Schutte, chief investment officer at Northwestern Mutual Wealth Management, in a Monday note. On an annual basis, consumer prices are increasing at their slowest pace since June 2023, matching the lowest annual rate since early 2021.

Persons: ”, Ron Temple, Jerome Powell didn’t, Brent Schutte, Alicia Wallace, —, Elisabeth Buchwald, McDonald’s, Read Organizations: CNN Business, Bell, New York CNN, Federal Reserve, Lazard, Northwestern Mutual Wealth Management, Bureau of Labor Statistics ’, Taco Bell Locations: New York, Burger

☆ Concern about Biden is 'deep and wide among all stakeholders,' says Kim Wallace
▼ + stars: | 2024-07-12 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailConcern about Biden is 'deep and wide among all stakeholders,' says Kim WallaceKim Wallace, 22V Research head of Washington policy research, and CNBC’s Brian Schwartz join 'The Exchange' to discuss how Democratic donors have frozen funds as long as Biden remains in the race, outlooks for the election, and more.

Persons: Biden, Kim Wallace Kim Wallace, Brian Schwartz Locations: Washington

☆ Unexpected bad news for inflation: Wholesale prices rose in June
▼ + stars: | 2024-07-12 | by ( Alicia Wallace | ) edition.cnn.com time to read: +2 min

CNN —Wholesale price inflation unexpectedly accelerated in June to its highest rate since March 2023. That’s an unwelcome development for the US economy one day after the government announced that consumer prices declined on a monthly basis for the first time in four years. On a monthly basis, prices rose 0.2% after holding flat in May. Economists had expected that prices would increase 0.1% on a monthly basis and hold steady at 2.2% annually. Prices dropped on a monthly basis for the first time since May 2020, and annual inflation slowed to 3%, its slowest rate since June 2023.

Persons: That’s, Price, ” Clark Bellin, Bellin Organizations: CNN —, of Labor Statistics, PPI, Federal Reserve

☆ You might have just missed Earth-shattering economic news
▼ + stars: | 2024-07-12 | by ( Allison Morrow | ) edition.cnn.com time to read: +4 min

Instead, the single best economic news of the past decade is but a murmur of chit-chat, barely audible against a clamor of politicos shouting about President Joe Biden’s age. Bidenomics worked and no one caresFor the past three years, President Biden’s biggest political liabilities have been painfully obvious: his age and inflation. Still, Thursday should have been a day for the White House to spike the football and double down on a message that has, historically, fallen flat — that Bidenomics is working. Rather than doing a victory lap, Biden on Thursday was preparing for a high-stakes news conference in front of a ravenous White House press corps that focused their questions almost entirely on his fitness to lead. The White House can finally cross out “inflation” on its list of presidential liabilities.

Persons: CNN Business ’, New York CNN —, it’s, Aaron Sojourner, Jay Powell, Joe Biden’s, Bidenomics, Biden’s, doesn’t, that’s, whoever’s, aren’t, Alicia Wallace, Biden, Donald Trump, it’ll, sipping Champagne Organizations: CNN Business, New York CNN, econ, Biden, Consumers, Labor Department, White, House, Democratic Locations: New York, America

☆ Prices fell in June for the first time since the start of the pandemic
▼ + stars: | 2024-07-11 | by ( Alicia Wallace | ) edition.cnn.com time to read: +1 min

CNN —US consumer prices did something in June that they haven’t done since the early part of the pandemic: They fell. Economists were expecting a 0.1% monthly increase and an annual gain of 3.1%, according to FactSet consensus estimates. Excluding energy and food prices, a closely watched “core” index of underlying inflation also slowed more than expected. Dow futures rose 80 points. Nasdaq futures rose 0.3% as well.

Persons: — Organizations: CNN, Bureau of Labor Statistics ’, Federal Reserve, Dow, Nasdaq, Treasury

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