During this unusually newsy summer Friday, you may have missed one positive update: The latest inflation data confirms that price increases are in fact decelerating. The personal consumption expenditures price index (PCE), which is the Fed’s chosen gauge for inflation, showed core costs rose 0.08% in May, its smallest increase since late 2020. Core PCE, which excludes energy and food, is up about 2.6% from a year ago, in line with expectations, and 0.2% lower than in April.

Finally some good inflation news

TheStreet

Here's what could happen to the U.S. economy next.

Wall Street analyst unveils startling prediction about the economy

It seems investors will have to wait longer as the Fed is not confident about cutting interest rates, even though inflation is cooling off. Federal Reserve Chair Jerome Powell stated on Tuesday that the central bank needs more data before cutting interest rates to make sure recent weak inflation readings accurately reflect underlying price pressures.

The Fed needs to see inflation fall more before cutting interest rates, Jerome Powell says

Treasury yields fell on Tuesday after Federal Reserve Chair Jerome Powell cited progress on squashing stubborn inflation. The yield on the benchmark 10-year Treasury note fell nearly 3 basis points to about 4.45%, while the yield on the 2-year Treasury note fell 3.5 basis points to trade at about 4.73%.

10-year Treasury yield falls as Powell says U.S. getting back on 'disinflationary path'

Markets Insider

Stocks rose Tuesday, with the S&P 500 closing at an all-time high above 5,500. Dovish comments from Fed Chairman Jerome Powell helped propel stocks higher. Meanwhile, Tesla jumped 10% after beating estimates for second-quarter deliveries. US stocks jumped Tuesday on encouraging remarks from Federal Reserve Chairman Jerome Powell, which sent...

Stock market today: Stocks close at records as Powell strikes dovish tone and Tesla shares spike

ABC News

Flight UX045 experienced strong turbulence early Monday morning and landed safely after being diverted to Natal International Airport in Brazil, Air Europa said.

40 people injured after turbulence launches plane passengers into ceiling

The S&P 500 has climbed nearly 15% this year.

Where is the stock market headed in the 2nd half of 2024?

"The bar for being short equities right now is very high given these upcoming flow and random market dynamics," Goldman Sachs' Scott Rubner said.

Stocks are about to hit a 'wall of money' that will drive the market to record highs in July, Goldman Sachs says

Snopes

"Grocery prices have fallen, and wages are rising faster than prices," U.S. President Joe Biden said.

Fact Check: Core Inflation in US at Its Lowest Since April 2021?

After Hurricane Beryl strengthened to a Category 5 while over the ocean, a Hurricane warning is now in effect for the island of Jamaica, according to the NHC.

Death toll climbs to 6 as Beryl is downgraded from a Category 5 hurricane

Georgia State

Masonville, NY

The victims were visiting Cooperstown, New York, for a baseball tournament.

5 family members killed in plane crash in upstate New York, police say

TheDailyBeast

The first major poll after Joe Biden’s debate with Donald Trump dealt the president a fresh blow Tuesday, showing him trailing by six points. The CNN poll was the first to be carried out in the wake of Thursday’s stumbling performance and will increase pressure on the embattled Biden to either step aside or offer a major reset to reassure his supporters and donors.For the past several weeks, the race had been tightening, with Trump’s lead much more negligible between one and three points nationally, according to FiveThirtyEight’ model.The new CNN poll, taken after the debate, appears to confirm Democrats’...

CNN Poll Showing Trump Pulling Ahead Adds Pressure on Biden

U.S. stocks drifted on Tuesday ahead of a critical jobs report expected to reveal whether the job market is cooling to Wall Street's hopes, as crude oil prices climbed near their highest levels since April and big stocks faced losses, while Treasury yields eased slightly with hopes of controlling inflation without triggering a recession, and European indexes fell amidst persistent regional inflation concerns.

Wall Street Wobbles as Oil Prices Soar and Jobs Data Looms

The Motley Fool

Amazon, Walmart, and IBM could outperform many of the other Dow stocks.

These 3 Dow Stocks Are Set to Soar in 2024 and Beyond

At least 30 people are dead and more than 100 were left injured after multiple suicide bombings were carried out in Nigeria, sources said.

At least 30 dead, more than 100 injured after multiple suicide bombings in Nigeria

LONDON — European stocks ended Tuesday in the red, as market participants assessed the euro zone's latest inflation data. Most sectors were in the red, with insurance stocks down 1.6%, while oil and gas pushed 0.55% higher. Headline inflation in the euro area dipped to 2.5% in June, the...

European markets end lower after euro zone core inflation holds steady

As the Israel-Hamas war continues, negotiations have stalled to secure the release of hostages taken by the terrorist organization, and Israeli forces continue to launch incursions in the southern Gazan town of Rafah ahead of a possible large-scale invasion. Hostage speaks 1st time since release. Noa Argamani, one of four...

Israel-Gaza updates: Hostage speaks 1st time since release

A big gain for Tesla helped drive Wall Street to more records. The S&P 500 rose 0.6% to top its all-time high set two weeks ago. The Dow Jones Industrial Average added 0.4%, and the Nasdaq composite climbed 0.8% from its own record set a day earlier. Tesla led the way after the electric-vehicle maker reported better sales for the spring than analysts expected.

How major US stock indexes fared Tuesday, 7/2/2024

A study shows that FDA-approved migraine drug atogepant is effective for relieving “medication overuse headaches” as a result of using too much pain medications.

Top migraine med for preventing migraines, drug-induced headaches is hard to access

"Even though the stock has done so well, it is still relatively cheap compared to where it was trading in the past," Eric Jackson said.

Nvidia will hit a $6 trillion valuation by the end of the year as investors start to realize how cheap the stock is, hedge-fund manager says

NewsBreak

US job openings rise to 8.1 million despite higher interest rates

WASHINGTON -- U.S. job openings rose slightly to 8.1 million in May despite the impact of higher interest rates intended to cool the labor market. Vacancies...

US job openings rise to 8.1 million despite higher interest rates

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