S&P 500 Breaks 5,600 Level As Inflation Continues to Cool

“It is only through failure and through experiment that we learn and grow.” ~ Isaac Stern

Good evening,

Equities were largely rangebound in the first two days of the week, and on Wednesday, the S&P 500 rose more assertively to close above the 5,600 level for the first time. That was before June CPI numbers came in on Thursday. Headline inflation fell for the first time since 2020 and core CPI rose just +0.06% MoM, and 3.3% YoY. Both showed inflation cooling from May’s data, and both came in below consensus expectations (0.2% and 3.4%, respectively).