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- Monthly CPI turns negative in June for 1st period since 2022
Monthly CPI turns negative in June for 1st period since 2022
Bay Area Times
July 12, 2024
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Top stories today:
- Monthly CPI turns negative in June for 1st period since 2022
- AI startup funding 2x’s YoY to $24.1B in Q2
- Semaglutide linked to lower risk of cognitive deficit, nicotine misuse
- OpenAI creates internal 1-5 ranking of AIs, judging themselves at 1.5
- Google DeepMind says Gemini 1.5 used by their helper robots
0. Data and calendar
All values as of 6 AM ET / 3 AM PT, other than S&P500 and NASDAQ close (4 PM ET / 1 PM PT).
All times are ET.
1. Monthly CPI turns negative in June for 1st period since 2022
CPI: -0.1% MoM / 3.0% YoY in June, vs. 0.1% / 3.1% expected, from 0.0% / 3.3% in May.
Core CPI: 0.1% / 3.3%, vs. 0.2% / 3.4%, from 0.2% / 3.4%.
Markets now expect a 86% chance of a rate cut in September, from 70% on Wed
2. AI startup funding 2x’s YoY to $24.1B in Q2
Deal count -26% to 1,001.
But we had huge deals like xAI’s $6B fundraise, CoreWeave’s $1.1B, etc.
Asia startup funding, meanwhile, -32% to $14.6B
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