Wall Street Gains📈
As investors anticipate inflation statistics, Wall Street gains.
- US equities rallied today as investors focused on today's most recent inflation data release. With inflation moving in the right direction, investors are more optimistic that the FED will loosen its monetary restrictions. In particular, the central bank has increased its target overnight lending rate by three-quarters of a percentage point over each of its most recent four meetings to reduce inflation.
Microsoft purchases 4% of the London Stock Exchange.
- As part of a new 10-year strategic relationship, $MSFT has acquired a 4% interest in the London Stock Exchange, now valued at about $1.84 billion. As part of the agreement, the US software giant will aid the 300-year-old exchange in enhancing its data and analytics and discovering new income sources.
Source: Photo by Turag Photography on Unsplash
Other News:
- Today the CPI is release released a 7.1% YoY increase, down from 7.7% last month.
Source: NY Times
- Chinese tech gains are led by $JD and $BABA as Beijing once more challenges the US at the WTO.
- Major crypto assets' lack of moment result formula in persistent uncertainty.
- 10% increase in $UAA: After investment bank, Stifel upgraded the sportswear company, Under Armour Inc. shares increased 10.07%.
- The price of oil increased this morning due to concerns about a potential supply shortage in the world's largest consumer as a key pipeline that supplies the commodity to the US remained shut.
Source: Yahoo Finance