WS #14033
July PPI flat and CPI at 3.4% YoY lowered September Fed hike odds to ~36%, driving S&P 500 to record close. Reddit (RDDT) to join S&P 500 on Aug 18, stock +10% AH, driving index fund inflows. Silver Lake in talks to acquire Workday (~$43B valuation), stock +25% intraday, potential mega-deal.
Cooling inflation and Fed rate hike odds
July PPI flat and CPI at 3.4% YoY lowered September Fed hike odds to ~36%, driving S&P 500 to record close.
Reddit (RDDT) to join S&P 500 on Aug 18, stock +10% AH, driving index fund inflows.
Silver Lake in talks to acquire Workday (~$43B valuation), stock +25% intraday, potential mega-deal.