Inflation, Consumer Price Index and June
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A whiff of tariff inflation showed up in economic data this week, providing the first clues of how tariff policy might impact prices and the economy.
US stocks end mixed after June inflation data and mixed earnings pressured the Dow and S&P 500. Nvidia powers Nasdaq to record high.
Cryptocurrency markets are trading lower on Tuesday morning as fears of whales taking profits grip influence sentiment. Cryptocurrency Ticker Price Bitcoin (CRYPTO: BTC) $116,541.21 Ethereum (CRYPTO: ETH) $2,
A fresh report on Tuesday marked two consecutive months of rising inflation. Consumer prices rose 2.7% in June compared to a year ago, marking a notable surge of price increases as President Donald Trump's tariff policy took hold and some retailers warned they may pass some of the tax burden onto shoppers.
President Donald Trump swept into office in January with a promise to tackle what he called the "inflation crisis" that had kicked off under his predecessor.
Gold prices rose on Tuesday with global trade tensions supporting demand for safe-haven assets, and investors awaiting U.S. inflation data due later in the day that could give clues on the Federal Reserve's interest rate path.
June's uptick in consumer prices likely gives the Fed room to stay on hold as uncertainty over tariffs clouds the timing of its next rate cut, according to economists.
Wholesale inflation remained unchanged in June, according to new Producer Price Index data. Meanwhile, "crypto week" in Washington has hit a snag as Republican lawmakers side with Democrats on cryptocurrency legislation.