After the Federal Reserve bolstered its case for rate cuts later this year by revealing that the inflation rate dropped to its lowest level in over three years in June, stocks saw little change.
Along with the Dow Jones Industrial Average, the S&P 500 remained just above the flatline. It was a 0.1% rise for the Nasdaq Composite.
As of previous month, the annual inflation rate dropped to 3% due to a 0.1% decline in the consumer price index from May. An increase of 0.1% each month and 3.1% annually was anticipated by economists polled by Dow Jones.
Lower than anticipated, the annual rate of 3.3% for the core CPI—which does not include food and energy—came in.
Source (CNBC)
