U.S. inflation cools again easing cost pressures in May
May core consumer prices rose only 0.2 percent from April, the smallest gain since October, easing inflation concerns. Fed officials signaled one rate cut this year, down from three, as the economy shows resilience with low unemployment and steady spending, while gas and grocery prices drift lower.
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Washington
United States
Federal Reserve
Fed
Joe Biden
Tom Porcelli
U.S
PGIM
Senators blast illegal e-cigarettes in Senate committee hearing
Senators on the Judiciary Committee grilled FDA and Justice Department officials over illegal e cigarettes flooding U S markets. They cited flavored products from China like Elf Bar, sold near the FDA campus, with 27 million applications awaiting review and only a few approvals for adult uses. A Seattle high school student testified about nicotine addiction sparked by a blueberry ice vape, while lawmakers noted regulators have barred about six vaping firms but new disposable products keep appearing.
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China
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DOJ
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Stocks Rise on Inflation News and Fed Rate Cut Bets
U S stocks advanced after inflation data showed prices up 3.3 percent from a year earlier, fueling bets on Fed rate cuts this year. The S&P 500 climbed 0.9 percent to a fresh high while the Nasdaq gained 1.5 percent and the Russell 2000 rose 1.6 percent. Nvidia led with a 3.5 percent gain, Apple rose 2.9 percent, and Oracle jumped 13.3 percent on strong AI-related bookings. Fed officials signaled potential cuts later this year and into 2025 amid ongoing inflation uncertainty.
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D.R. Horton
Oracle
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