🚀 Inflation rose in July

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Market Overview
Read time 1.4 minutes

Year To Date Performances:

1. Inflation in July ticked up slightly, with the personal consumption expenditures (PCE) price index—closely watched by the Federal Reserve—rising 0.2% for the month and 2.5% year-over-year, matching expectations. Core PCE, which excludes food and energy, also increased 0.2% month-over-month, with a 2.6% annual rise, slightly below the 2.7% forecast. The data shows stability in core inflation, but shelter costs continue to climb, rising 0.4% in July. As the Fed prepares for its first rate cut in over four years, market expectations now lean towards a 25 basis point reduction in September, with some consideration for a larger 50 basis point cut. Despite inflation concerns, the economy is poised for growth, and the Fed may shift its focus towards supporting the labor market amid rising unemployment rates.

2. Alibaba has completed a three-year regulatory overhaul after paying a $2.6 billion antitrust fine in 2021 for monopolistic practices. The State Administration for Market Regulation (SAMR) in China confirmed that Alibaba has aligned with antitrust rules, ending its restrictive "choose one of two" policy, which forced merchants to sell exclusively on its platform. This development marks a major regulatory milestone for Alibaba, potentially easing the scrutiny it has faced from Beijing. While this signals a more favorable environment for private tech firms, Alibaba still contends with slow growth and intensified competition in the market.

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   2. Ulta Beauty shares fell 7% after the company missed expectations in Q4.

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