Midday Fly By: Stripe eyes deal for PayPal, Lionsgate mulls sale
The major averages were higher as major technology names led broad gains. Markets are looking to build on Tuesday's gains after softer-than-expected inflation data eased concerns that the Federal Reserve may need to tighten policy again this month. That view is likely firmed up further by today's cooler-than-expected producer price data that reinforced signs that pricing pressures are easing. The producer price index for final demand fell 0.3% in June, driven by a 1.4% decline in goods prices, while services prices edged up 0.2%. The softer-than-expected report follows Tuesday's encouraging CPI data and is likely to strengthen expectations that the Federal Reserve will leave interest rates unchanged at its July meeting. Get caught up quickly on the top news and calls moving stocks with these five Top Five lists. 1. STOCK NEWS: Stripe and Advent have made a joint offer to acquire PayPal (PYPL) for $60.50 per share, or over $53B,
The major averages were higher as major technology names led broad gains.
Markets are looking to build on Tuesday's gains after softer-than-expected inflation data eased concerns that the Federal Reserve may need to tighten policy again this month.
That view is likely firmed up further by today's cooler-than-expected producer price data that reinforced signs that pricing pressures are easing.
The producer price index for final demand fell 0.3% in June, driven by a 1.4% decline in goods prices, while services prices edged up 0.2%.
The softer-than-expected report follows Tuesday's encouraging CPI data and is likely to strengthen expectations that the Federal Reserve will leave interest rates unchanged at its July meeting.
Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.
1.
STOCK NEWS: Stripe and Advent have made a joint offer to acquire PayPal (PYPL) for $60.50 per share, or over $53B,