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home / news releases / QQQ - June CPI Report: Inflation Falls Rate Cut Hopes Rise

QQQ - June CPI Report: Inflation Falls Rate Cut Hopes Rise

PowerShares QQQ Trust Ser 1

2024-07-11 09:40:00 ET

Summary

  • June data from the Labor Department showed prices rising 3.0% YOY, below the forecasted increase. Prices also fell on the month.
  • Excluding volatile food and energy categories, prices rose 3.3%, also below expectations.
  • The market-friendly data continues a trend of cooling inflationary pressures seen last month.
  • I view the data as supportive of looser Federal Reserve policy in the months ahead.

Odds were already looking good for those expecting looser monetary policy in the months ahead. These chances just got better following today's monthly data on the consumer price index ("CPI")....

For further details see:

June CPI Report: Inflation Falls, Rate Cut Hopes Rise
Stock Information
Company Name: PowerShares QQQ Trust Ser 1
Stock Symbol: QQQ
Market: NASDAQ
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