"Inflation is showing signs of easing and moving toward the Federal Reserve's 2% target, with the latest CPI reading coming in at a cooler than expected annual rate of 2.6%. Grocery store item prices climbed higher with the exception of eggs, which continue to fall further from their peak. Sectors of the economy are mostly trading in the green, led by energy stocks with a 1% jump today."
"JPMorgan ( NYSE: JPM) CEO Jamie Dimon has weighed in on the economy, pointing to a softening labor market coupled with a resilient consumer that continues to spend money, strengthening the balance sheets of businesses. Dimon also cautioned, "We remain vigilant, and markets seem to underappreciate the potential hazards like complex geopolitical conditions, the risk of sticky inflation and elevated asset prices.""
Markets opened mixed after economic data that bolster the case for lower interest rates. Annual CPI cooled to 2.6%, indicating easing inflation pressure. Grocery prices rose overall except for eggs, which continued declining from their peaks. Most sectors traded higher, led by a roughly 1% jump in energy stocks. JPMorgan CEO Jamie Dimon noted a softening labor market alongside a resilient consumer and stronger business balance sheets, while warning of geopolitical hazards, sticky inflation risk and elevated asset prices. JPMorgan beat Q4 revenue estimates though financials traded under pressure. President Trump urged tech firms to pay data-center electricity costs tied to AI; KeyBanc upgraded Intel and AMD.
Read at 24/7 Wall St.
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