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US stocks today: US stocks end higher on cool inflation data, strong earnings

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US stocks today: US stocks end higher on cool inflation data, strong earnings
Wall Street stocks gained ground as softening inflation ​data and a robust beginning of second-quarter earnings season put investors in a buying mood.

All three major stock indexes closed modestly higher despite weakness in semiconductors, with consumer-focused retail and travel/leisure clear outperformers.

PayPal surged after sources told Reuters that Stripe and private equity firm Advent ‌International have jointly offered ⁠to acquire ⁠it for $60.50 per share – representing around a 28% premium to its Tuesday close.

A second day of solid bank earnings added momentum to an auspicious ​beginning to second-quarter reporting season. BlackRock and Morgan Stanley both beat quarterly profit expectations.

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“Everything looks great with the bank earnings,” said Mike Dickson, ​head of portfolio management at Horizon Investments in Charlotte, North Carolina. “I would not be at all surprised to see another bang-out quarter.”


Analysts currently expect second-quarter year-on-year S&P 500 earnings growth of 23.7%, according to the most recent data from LSEG.
According ​to preliminary data, the S&P 500 gained 29.00 points, or 0.38%, to ⁠end at ‌7,572.59 points, while the Nasdaq Composite gained 161.87 points, or 0.62%, to 26,268.88. The Dow Jones ​Industrial Average rose 155.53 ​points, or 0.30%, to 52,663.80.COOLING INFLATION, WARSH TESTIMONY CONTINUES

The Labor Department’s Producer Price Index (PPI) ⁠report provided a second straight day of cooler-than-expected inflation data, even as newly ​confirmed U.S. Federal Reserve Chair Kevin Warsh appeared before the Senate Banking Committee in ​his second day of Congressional testimony.

Combined with Tuesday’s CPI report, the PPI data suggests that inflation took a step in the right direction last month even though it remains elevated due to the U.S.-Israeli war on Iran. This eased near-term pressure on the central bank to raise its key interest rate.

“My fear going into this week was, we could get a hot CPI print, inflation above 3.8%, and we didn’t get it; we got a cooler reading of ‌3.5%,” said Lauren Cassidy, chief investment officer of Founders 100 ETF, in Dallas. “So that allows the Federal Reserve to have the opportunity to keep rates flat or cut them later this year, ​which is good ​news for the market.”

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Financial markets ⁠are currently pricing in a 10.2% likelihood that the Fed will implement a 25 basis point rate hike at the conclusion of this month’s monetary policy meeting, down from 31.0% a week ago, according to CME’s FedWatch tool.

Even so, ​this week’s inflation data is focused on last month, as investors were growing optimistic that negotiators were moving toward a peaceful resolution to the Middle East conflict. That optimism has faded in recent days as the U.S. and Iran staged escalating airstrikes, vying for control over the Strait of Hormuz. That could result in renewed price pressures.

Fed Governor Lisa Cook said she is “prepared to act” if inflation does not soon begin to slow.

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Clio Snacks unveils drizzled bars

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Clio Snacks unveils drizzled bars

The chocolate-drizzled bars are available in three flavors.

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‘Done deal’: CM Himanta Biswa Sarma on NDA seat-sharing for Assam polls

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'Done deal': CM Himanta Biswa Sarma on NDA seat-sharing for Assam polls
Guwahati: Chief Minister Himanta Biswa Sarma on Sunday said the seat-sharing arrangement within the NDA for the Assam assembly elections was a “done deal”.

Among the NDA constituents in the state, the BJP, Asom Gana Parishad (AGP), United People’s Party Liberal (UPPL) and Bodoland People’s Front (BPF) have members in the assembly. Rabha Hasong Joutha Sangram Samiti (RHJSS) and Janashakti Party (JP) are also part of the NDA, but they do not have any MLAs.

“Our NDA alliance is complete. We know who will contest where; it is a done deal. There is no issue in stitching the alliance,” Sarma told reporters at the state BJP headquarters.

“After every process is complete, the state leadership will meet Union Home Minister Amit Shah with the list of probable candidates,” he added.

On January 7, Sarma had said the BJP was likely to formalise its seat-sharing agreement with its allies by February 15.

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On December 5 last year, he had said the finalisation was expected to be over by January 15.
The elections for the 126-member assembly are expected to take place in March-April. This will be the first election after the delimitation exercise, done in 2023.Post delimitation, many seats and their geographical boundaries have been changed, while some non-reserved seats were reserved and vice versa. This has led to complications within the ruling and opposition coalitions.

At present, the BJP has 64 members in the assembly, while AGP has nine, UPPL has seven, and the BPF has three.

In the opposition camp, the Congress has 26 MLAs, AIUDF has 15, and CPI(M) has one. There is one Independent legislator as well.

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Tom Brady joins eMed to help expand GLP-1 access and fight obesity

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Tom Brady joins eMed to help expand GLP-1 access and fight obesity

As GLP-1 weight loss medications continue to surge in popularity, NFL legend Tom Brady is getting in on the action, using his wellness brand to “democratize” the health care system in a way the world has “never seen.”

The seven-time Super Bowl champion has teamed up with eMed, a digital health company managing sustainable ways to offer GLP-1 drugs while helping employers reduce health insurance claims.

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“There’s an epidemic in America, the disease of obesity, and how can we democratize health and wellness in a way that the world has never seen?” Brady said in an exclusive interview with “The Claman Countdown” Wednesday.

DR OZ LINKS OBESITY TO CHRONIC DISEASE SURGE, SAYS GLP-1S CAN ‘JUMPSTART’ BETTER HEALTH

tom brady

Tom Brady before a game at AT&T Stadium Sept, 15, 2024, in Arlington, Texas. (Sam Hodde/Getty Images / Getty Images)

Serving as eMed’s chief wellness officer, Brady hopes to help people live better, healthier lives by harnessing the power of weight loss medications, lamenting America’s obesity epidemic.

“I love seeing people live a better life, live a healthier life, feel better, do the things that they want to do in the end. It’s always been a struggle in our country,” the football legend said.

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“There’s no debate about the way that this medicine is working right now in terms of keeping people and getting people on their wellness journey started.”

TOM BRADY LAUNCHES GOOD NUT COCONUT WATER LINE WITH GOPUFF IN MARKET EXPECTED TO REACH $11B BY 2030

EMed CEO Linda Yaccarino previously said the goal is to apply Brady’s “rigor” to improve the health of the American workforce and minimize chronic diseases.

Your weight loss meds just got 50% cheaper thanks to new deals

A woman injects a GLP-1 into her stomach in this undated photo taken at an undisclosed location. (iStock / iStock)

With more than 60% of Americans receiving health benefits through an employer, eMed aims to incentivize companies to cover GLP-1 medications for eligible workers, Yaccarino said.

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“We do a great job of saving employers’ money and getting people healthy,” Brady said.

AMERICANS ARE GIVING UP MULTIVITAMINS FOR A DIFFERENT DAILY HEALTH HABIT, STUDY FINDS

“There’s finally, for the first time, a health benefit, attacking all these chronic diseases and a financial benefit to employers. So, it’s giving them incentive to cover the medications,” Yaccarino added.

Tom Brady shakes hand of fan

Tom Brady shakes a young fan’s hand at Fanatics Fest. (Fanatics / Fox News)

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Yaccarino described GLP-1 medications as the “pharmaceutical revolution” of the modern age while outlining the support eMed provides to patients.

“Once we bring our members onto our program, we combine AI, technology and continuous clinical support so they stay with us,” she said.

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Soccer-Argentina late show sinks England and sets up World Cup final against Spain

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Soccer-Argentina late show sinks England and sets up World Cup final against Spain

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Ghirardelli unveils premium chocolate bars

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Ghirardelli unveils premium chocolate bars

The bar line features three varieties.

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Form 4 Microsoft Corporation For: 15 July

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Form 4 Microsoft Corporation For: 15 July

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LARRY KUDLOW: Has Goldilocks returned?

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LARRY KUDLOW: Has Goldilocks returned?

Once again Wall Street was surprised by a deflationary wholesale price report where the level of the so-called producer price index actually dropped by three-tenths of a percent. And it’s worth noting that after rising 1.1 percent in April, the PPI eased to 0.6 percent in May. And then the outright decline of three-tenths in June.

This follows yesterday’s deflationary CPI report. Both are a welcome relief from the inflationary reports of recent months. Real average hourly earnings rose 0.8 percent in June. That’s the best monthly real wage gain in 11 years, excluding the pandemic. Wall Street is also wrong about its prediction that the Fed will be raising rates, as these deflationary reports have taken rate hikes off the board, undoubtedly for the rest of the year I think. 

Actually, my view is the Fed’s not going to change their target rates until Chairman Kevin Warsh’s various task forces report. There are five panels with some very smart people on them. They’re gonna look at the appropriate inflation measures, the Fed’s balance sheet, communication and forward guidance, economic data quality, and productivity.

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This is part of Mr. Warsh’s regime change. And it’s a very good idea. Yet my hunch is not to expect any big policy changes until those task forces publish their work, and the central bank figures out how to absorb the reports and then change them.

Meanwhile, even as President Trump steps up the bombing of Iran in response to the IRGC busting the ceasefire and the memorandum of understanding, inflationary expectations in our financial markets are actually coming down.

Indeed even the WTI oil price seems to have stopped rising. I think word money markets want to see regime change in Iran even more than regime change at the Fed. For the record, the two-year CPI break-evens have dropped all the way to 1.89 percent, that’s below the Fed’s 2 percent target, the dollar is strong, and precious metals are soft.

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Meanwhile profits, productivity, and stock prices are all soaring. After the pro-growth incentives of the One, Big, Beautiful Bill of a year ago. So at least for now, we’ve got falling prices and a rising economy. Has Goldilocks returned?

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Circle Stock Downgraded on Big Threat From New Stablecoin

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Circle Stock Downgraded on Big Threat From New Stablecoin

Circle Stock Downgraded on Big Threat From New Stablecoin

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TNA: Small-Caps May Have Near-Term Turbulence Before Returning To Growth (NYSEARCA:TNA)

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TNA: Small-Caps May Have Near-Term Turbulence Before Returning To Growth (NYSEARCA:TNA)

This article was written by

Monte Independent Investment Research: Michael Del Monte is a buy-side equity analyst with expertise in the technology, energy, industrials, and materials sectors. Prior to working in the investment management industry, Michael spent over a decade in professional services working across industries that include O&G, OFS, Midstream, Industrials, Information Technology, EPC Services, and consumer discretionary.

Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha’s Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

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First Horizon Corporation Has Proven Itself (Upgrade)

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Gaming and Leisure Properties: The Numbers Don't Justify This Discount (NASDAQ:GLPI)

First Horizon Corporation Has Proven Itself (Upgrade)

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