CPI YoY For June 3.0% Vs 3.1% Expected; 4.0% Prior
Portfolio Pulse from Benzinga Newsdesk
The Consumer Price Index (CPI) year-on-year for June came in at 3.0%, lower than the expected 3.1% and the previous month's 4.0%.
July 12, 2023 | 12:30 pm
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NEUTRAL IMPACT
The lower than expected CPI could potentially impact the SPY ETF as it reflects the performance of the S&P 500, which is sensitive to inflation data.
The CPI is a key measure of inflation and can influence the Federal Reserve's decisions on interest rates. Lower than expected inflation could lead to a delay in interest rate hikes, which could be positive for stocks. However, it's also possible that the market has already priced in this data, hence the neutral score.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 75