WS #14034
July PPI flat vs +0.2% expected and CPI at 3.4% YoY cut September Fed hike odds to ~36%, driving S&P 500 to record high and Treasury yields lower. Reddit (RDDT) will join the S&P 500 on Aug 18, replacing AvalonBay, sending shares up 11% in after-hours trading. Workday (WDAY) surged 16-18% on reports of Silver Lake acquisition talks, with market cap exceeding $50B.
Cooling inflation and Fed rate hike expectations
July PPI flat vs +0.2% expected and CPI at 3.4% YoY cut September Fed hike odds to ~36%, driving S&P 500 to record high and Treasury yields lower.
Reddit (RDDT) will join the S&P 500 on Aug 18, replacing AvalonBay, sending shares up 11% in after-hours trading.
Workday (WDAY) surged 16-18% on reports of Silver Lake acquisition talks, with market cap exceeding $50B.