The stock market displayed a mix of gains and losses during Wednesday’s session as investors navigated through the latest Consumer Price Index data, as per Sevens Report.ultimately edged higher, closing with a modest gain of 0.38%. The day began with optimism as the headline July CPI figure came in slightly below expectations, marking the first time inflation fell below 3% since early 2021. However, the core CPI remained in line with estimates at 3.
The strategists explain that with inflation now at relatively normal levels, the potential for it to surprise markets on the downside has diminished. As a result, the market’s focus has shifted to other factors, such as economic growth and Federal Reserve policy. With inflation expectations already priced in, only data that significantly deviates from expectations—either much weaker inflation or stronger growth—will move the market.
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Source: CNBC - 🏆 12. / 72 Read more »