Prices fell in June for the first time since the start of the pandemic | CNN Business

Category: Finance

Consumer Price Index dropped 0.1% from May, slowing annual inflation to 3%. The better-than-expected inflation report raised hopes for a Federal Reserve rate cut. US stocks reacted positively but settled lower. Cooling inflation may lead to rate cuts in the coming months. Shelter costs moderated, contributing to the overall slowdown in inflation. Major retailers are announcing price cuts as consumers become more price-conscious.

Keywords: Consumer Price Index, Inflation, Federal Reserve, Stock Market, Shelter Costs

Source: CNN

Update At: 7/12/2024

Related Sources

Superman & Lois season 4 ending explained: Who dies in the series finale?

Top four equity release facts to help you understand the options available and determine if it's suitable for you.

Radio Times

Why won't there be a Superman & Lois season 5?

Top four equity release facts to help you understand the options available and determine if it's suitable for you.

Radio Times

Bitcoin alcanza los US$ 100.000 mientras se forma la administración pro-cripto de Trump

Bitcoin experienced a significant surge, increasing by $6,000 in one day following projections of Trump's presidential win, eventually reaching a new record above $74,000 and hitting $90,000 a week later.

KESQ

Tax brackets: What are the amounts, deductions for 2024?

Tax season is approaching with the IRS increasing standard deductions for 2024. Married couples filing jointly will see a deduction of $29,200, while single filers will have a deduction of $14,600. The start of tax season is expected to be announced in January, with the filing deadline on April 15. Additionally, higher standard deductions are projected for 2025.

NewsCenterMaine.com WCSH-WLBZ

Powell's remarks shoot mortgage rates higher

The market reacted negatively to the Federal Reserve's recent statements, leading to a significant drop in the Dow and an increase in mortgage rates. Chairman Powell's lack of confidence during the press conference raised concerns about future rate cuts and inflation forecasts, indicating a prolonged period of elevated mortgage rates. The Fed's cautious approach to the labor market and its implications for housing in 2025 were also highlighted.

HousingWire

Why Are Mortgage Rates Higher Despite Another Fed Rate Cut? Today's Rates, Dec. 18, 2024

CNET Money is an advertising-supported publisher that earns compensation for sponsored products and affiliate links, which may affect the placement and order of these links on their site.

CNET

Why mortgage rates remain high despite federal reserve rate cuts

Despite the Federal Reserve's recent interest rate cuts, mortgage rates remain high due to factors like Treasury yields, inflation expectations, credit risk, and economic conditions. Prospective homebuyers face increased borrowing costs, which may limit their purchasing power. The National Association of Realtors predicts a slight decline in mortgage rates by 2025, but the overall impact of the Fed's cuts on mortgage rates is limited.

The Africa Logistics

Mortgage Rates Jump Abruptly Higher After The Fed's Rate Cut

Following the Fed's rate cut, mortgage rates have increased, with the average lender's rates rising by at least 0.20%. The spike in mortgage rates is attributed to the Fed's outlook on future rate increases rather than the cut itself. The dot plot indicates higher rates expected by the end of next year, leading to a significant rise in Treasury yields and subsequent repricing by lenders.

Mortgage News Daily

The Fed Cuts, but Weekly Mortgage Rates Rise

Despite the Federal Reserve cutting short-term interest rates, mortgage rates increased, signaling concerns over persistent inflation and economic uncertainty. The divergence between the mortgage market and the Fed's outlook highlights differing expectations about fiscal policy and its impact on inflation and interest rates.

WFXG

U.S. stocks down for 10th straight session: What market insiders are saying

U.S. stocks experienced significant declines following the Federal Reserve's interest rate cut and projections indicating a slower pace of future cuts. The S&P 500 fell 2.96%, the Nasdaq Composite dropped 3.62%, and the Dow Jones Industrial Average decreased by 2.61%. Market insiders expressed concerns over inflation and uncertainty, suggesting that the Fed's cautious stance has led to increased selling pressure in the markets.

NorthJersey.com