Stocks Pare Losses After Tame CPI Report as Oil Rises on Iran War
Updated
Updated · Bloomberg · Jun 10
Stocks Pare Losses After Tame CPI Report as Oil Rises on Iran War
3 articles · Updated · Bloomberg · Jun 10
Summary
Wall Street cut an earlier tech-led selloff after June inflation data showed core consumer prices rose less than economists expected.
That eased fears of another Federal Reserve rate increase even as headline inflation accelerated, driven by higher energy costs tied to the Iran war.
Treasuries and the dollar swung after the report, reflecting shifting bets on how long the Fed can stay on hold.
Oil climbed again after President Donald Trump criticized Iran for failing to reach a quick peace deal with the US following overnight attacks that strained a fragile truce.