U.S. stocks edged lower as investors navigated a mix of rising oil prices, corporate earnings signals, and shifting expectations around Federal Reserve policy. The Dow, S&P 500, and Nasdaq all turned down after early gains, reflecting a market grappling with geopolitical tensions and inflation concerns. Indexes Pull Back All three major indexes slipped roughly between 0.3% and 0.6%, giving back some of the previous session’s momentum. The downturn followed renewed volatility in energy markets and cautious sentiment around consumer spending. Oil Prices Add Fresh Pressure Crude prices extended their sharp rally, driven by heightened worries over a potential U.S.–Iran conflict. Brent crude climbed above $71 per barrel, while West Texas Intermediate hovered near $66 — its biggest daily jump since October. Rising energy costs revived inflation concerns and weighed on equities. Walmart Earnings in Focus Walmart posted stronger‑than‑expected results, but its cautious pro...
Canada’s Inflation Rate Eases to 2.7% in June
Canada’s annual inflation rate cooled to 2.7% in June, according to Statistics Canada. This figure came in slightly lower than financial industry consensus expectations. Here are the key points:
- Monthly Basis: The Consumer Price Index (CPI) decreased by 0.1% in June.
- Grocery Prices: While overall inflation eased, grocery prices continued to rise.
- Interest Rate Implications: The Bank of Canada will closely scrutinize these figures as it prepares for its next interest rate decision on July 24.
This decline in inflation follows a period of higher rates during the pandemic. The current rate is nearing the Federal Reserve’s target, signaling a potential stabilization.
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