The stock market fell on Tuesday as a hot inflation report overshadowed the start of the second-quarter earnings season. Specifically, the June consumer price index was up 5.4% versus forecasts for a rise of 5%. This represented the highest 12-month rate since August 2008.Earnings beats by JPMorgan Chase (JPM) and Goldman Sachs (GS) offset some of the inflation concerns though, with the broader...
Continue reading >>Price increases in used cars, car rentals — as well as a rebound in airfares, lodging and food — are behind the biggest inflation surge since 2008 as the U.S. economy reopens. The consumer price index jumped 5.4% from a year earlier, the largest increase since before the worst of the financial crisis, the Labor Department reported Tuesday. Excluding the volatile food and energy categories,...
Continue reading >>The stock market fell on Tuesday as a hot inflation report overshadowed the start of the second-quarter earnings season. Specifically, the June consumer price index was up 5.4% versus forecasts for a rise of 5%. This represented the highest 12-month rate since August 2008.Earnings beats by JPMorgan Chase (JPM) and Goldman Sachs (GS) offset some of the inflation concerns though, with the broader...
Continue reading >>The stock market was mostly higher on Friday following the June jobs report with another round of record highs for Tech and the broader market. Specifically, non-farm payrolls rose by 850,000, the sixth-straight monthly gain, versus forecasts for a print of 720,000. The unemployment rate, however, unexpectedly ticked up to 5.9% versus expectations for a dip to 5.6%. The small-caps failed to show...
Continue reading >>Oversold, OCGN is gaining momentum. According to Tip Ranks, “Ocugen has inked a deal with India-based Bharat Biotech for the US rights for the company’s vaccine COVAXIN. And Bharat has now reported positive second interim analysis results from the COVAXIN Phase 3 trials. The vaccine displayed an overall efficacy rate of 78%, with 100% success against severe cases of the disease. COVAXIN...
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