US Equity Markets End Higher on Cooling Inflation, Trump's Strait of Hormuz Toll Reversal
US equity indexes closed higher Tuesday after the June inflation rate fell and President Donald Trump withdrew plans to impose a toll on vessels transiting the Strait of Hormuz as a US reimbursement fee. * The US seasonally adjusted consumer price index in June fell 0.4% from a month earlier, compared with expectations for a 0.1% decrease in a Bloomberg survey and following a 0.5% increase in May, government data showed. * August West Texas Intermediate crude oil rose $1.54 to settle at $79.68 per barrel, while September Brent crude, the global benchmark, was last seen up $1.92 at $85.22. * Goldman Sachs (GS) shares rose 9.1%, the second-biggest gain on the S&P 500, after Q2 results beat analysts' estimates. * IBM (IBM) shares tumbled 25%, the largest drop on the S&P, after preliminary Q2 results fell short of market expectations, with CEO Arvind Krishna calling the performance "disappointing."
US equity indexes closed higher Tuesday after the June inflation rate fell and President Donald Trump withdrew plans to impose a toll on vessels transiting the Strait of Hormuz as a US reimbursement fee. * The US seasonally adjusted consumer price index in June fell 0.4% from a month earlier, compared with expectations for a 0.1% decrease in a Bloomberg survey and following a 0.5% increase in May, government data showed. * August West Texas Intermediate crude oil rose $1.54 to settle at $79.68 per barrel, while September Brent crude, the global benchmark, was last seen up $1.92 at $85.22. * Goldman Sachs (GS) shares rose 9.1%, the second-biggest gain on the S&P 500, after Q2 results beat analysts' estimates. * IBM (IBM) shares tumbled 25%, the largest drop on the S&P, after preliminary Q2 results fell short of market expectations, with CEO Arvind Krishna calling the performance "disappointing."