The producer price index increased 0.2%; economists worried Trump will worsen inflation, WSJ survey finds; PepsiCo, Conagra signal limits to price increases; IMF predicts Fed rate cuts by end of year.
Markets close mixed; PepsiCo blames “price conscious” shoppers for falling sales; Mortgage rates tick down; GM will retool a Michigan plant for EVs, with federal help.
The consumer price index fell 0.1% between May and June; initial jobless claims remain low at 222,000; Biden administration to distribute $1.7 billion to modernize old auto plants; Apple to open Apple Pay to competitors in two weeks.
The tariffs cover steel and aluminum shipped from Mexico, but made elsewhere; Powell opens door to interest rate cuts; Microsoft leaves OpenAI board; Samsung workers in South Korea go on strike.
A measure of small business optimism hit its highest point of the year in June; Hurricane Beryl leaves Texas oil infrastructure largely unscathed; Purdue Pharma creditors ask for authorization to sue Sackler family members; Boeing 737 planes to be inspected for potential faulty oxygen mask systems.
Boeing deal covers conduct before Max crashes; Texas ports, oil platforms close as Hurricane Beryl strikes; Skydance, Paramount agree to merger; France, Britain elect left-leaning leaders promising economic improvements.
