Inflation cools to three year low ahead of rate cut
U S inflation slowed to 2.9 percent year over year in July and rose just 0.2 percent from June reflecting housing costs easing. Prices for groceries and cars fell or held steady, while meat and produce prices remained higher. Public reaction notes ongoing cost pressures amid wage gains.
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Wall Street ticks higher after inflation reports
U S stocks edged up on a quiet Wednesday as inflation data matched economists expectations. The S P 500 rose 0.4 percent and the Dow climbed 242 points to hover above 40,000, while the Nasdaq inched higher.
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Trump veers off script at Asheville rally in North Carolina
Donald Trump delivered a 75 minute economic speech in Asheville mixing promises to lower energy costs and curb inflation with off script tangents about Kamala Harris laugh and Hunter Biden. He defended energy policy, attacked Harris and Biden, and hinted at broad reforms while wavering from prepared remarks.
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Cisco to Cut Seven Percent of Workforce
Cisco Systems plans a second round of job cuts this year totaling about 5,900 positions from its 84,900 employees as it shifts focus to faster growing tech like AI and cybersecurity. The company, based in San Jose, reported Q4 earnings of 2.16 billion dollars, revenue of 13.64 billion, and announced AI startup investments and Nvidia collaboration while outlining a 4,000 job cut in February.
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