(News Bulletin 247) – Futures on the S&P500 (+0.7%) and the Nasdaq-100 (+0.9%) predict a strong start to the session on the New York Stock Exchange, after the publication of figures confirming the slowdown in inflation in the United States.
The US consumer price index only rose 3% in June compared to the same month of 2022, an annual rate that was down sharply from the previous month, and slightly below economists’ expectations.
Excluding energy and food products, two traditionally volatile categories, the annual inflation rate slowed more moderately to stand at 4.8%, a level also slightly below that expected by the market on average.
“Regardless of our expectations of a slightly better inflation report, we still expect the Fed to raise rates at the next meeting,” warned Tiffany Wilding, economist at PIMCO, earlier this week.
In securities news, Brussels has authorized the proposed acquisition of VMware by Broadcom, under the EU Merger Regulation, an approval however conditional on full compliance with the commitments offered by the acquirer.
Pratt & Whitney, a subsidiary of Raytheon, announces that it has signed a $5.5 billion modification to the support contract for the F117 engines that power the C-17 Globemaster III transport aircraft, a contract previously awarded with the USAF.
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