Strongest Core Inflation in 30 Years

This morning’s CPI report showed that consumer prices increased by 0.6% last months. That’s on top of a 0.6% increase in June. Wall Street had been expecting an increase of 0.3% for July. The increase for July was the strongest in 11 years.

The “core rate,” which excludes volatile food and energy prices, also rose by 0.6%. That’s the largest increase since January 1991.

A few news items. AFLAC (AFL) increased its buyback authorization by 100 million shares. That’s on top of the previous authorization which was down to 21.9 million shares.

Hormel Foods (HRL) said it will release its earnings before the market opens on August 25. The stock is at a new high today along with FactSet (FDS), Stepan (SCL) and Sherwin-Williams (SHW).

Here’s a Bloomberg article on Disney’s (DIS) new CEO.

Intercontinental Exchange (ICE) said last week that it will buy Ellie Mae, a mortgage services provider, for $11 billion.

Posted by on August 12th, 2020 at 10:30 am


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