US consumer prices rise
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Financial news has been breaking fast and furious, thanks to President Trump. Over the past week, he has: Escalated threats of sharply higher tariffs on major trading partners that don’t cut trade deals with him by the end of the month.
American companies in China are reporting record-low new investment plans for this year and declining confidence in profits, while uncertainty in U.S.-China relations and President Donald Trump’s
U.S. producer prices were unexpectedly unchanged in June as a tariff-driven increase in the cost of goods such as communication and related equipment was offset by softening demand for travel services.
Consumer prices rose 2.7% in June from a year earlier, the Labor Department said Tuesday, up from an annual increase of 2.4% in May.
US stocks end mixed after June inflation data and mixed earnings pressured the Dow and S&P 500. Nvidia powers Nasdaq to record high.
The Indian rupee is set to open weaker on Wednesday after June U.S. inflation data hinted at tariff-driven price pressures, prompting markets to scale back bets of Federal Reserve rate cuts and pushing the dollar and U.
US wholesale inflation was muted in June, signaling that price pressures might not be building for producers and manufacturers.
President Donald Trump is doubling down on tariffs as inflation rises. He says he'll impose tariffs on pharmaceuticals at the end of the month.