Inflation rates move at a sloth-like pace, but don’t snooze on the ‘sticky core’ prices,” warns Federal Reserve to investors. The expected rise in rates, however, has caught no one off-guard as U.S. inflation had a slower-than-anticipated increase in June.
The government’s closely monitored consumer price index grew 3.0% annually, which was down from 4.0% in May, although ‘core’ prices maintained their significant height, standing at 4.8% yearly and 0.2% monthly. While the headline number is inching closer to the Federal Reserve’s 2% target, investors shouldn’t take any chances as the ‘sticky core’ figures have fueled potential rate hikes.
Don’t let the sluggish pace lull you into complacency – the Fed may still unleash a quarter-point jump in borrowing costs later this month.
Amazon, WD-40, JPMorgan and Zillow rise premarket
U.S. futures traded lower, with investors cautious ahead of the release of Federal Reserve meeting minutes from the June policy gathering.
Here are some of the biggest premarket U.S. stock movers today:
- Nvidia (NASDAQ:NVDA) stock rose 0.6% after the Financial Times reported that U.K.-based chip designer Arm is in negotiations with the U.S. chipmaker for it to be an anchor investor in Arm’s planned initial public offering.
- Illumina (NASDAQ:ILMN) stock fell 0.2% after EU regulators hit the genetic sequencing equipment maker with a record €432 million (€1 = $1.1023) fine for closing its acquisition of cancer test developer Grail without first securing regulatory approval.
- Netflix (NASDAQ:NFLX) stock rose 0.6% after UBS lifted its price target on the streaming giant by 35%, keeping a ‘buy’ rating, citing the recently announced restrictions on account sharing.
- Microsoft (NASDAQ:MSFT) stock rose 0.4% after a federal court judge rejected U.S. antitrust concerns over the tech giant’s proposed megamerger with video game maker Activision Blizzard (NASDAQ:ATVI).
- Amazon (NASDAQ:AMZN) stock rose 0.4% on the second day of the e-commerce giant’s 48-hour shopping event, known as Prime Day, which attempts to draw in U.S. customers with deep discounts.
- Broadcom (NASDAQ:AVGO) stock rose 0.6% after the chipmaker secured EU antitrust approval for its $61 billion proposed acquisition of cloud computing firm VMware (NYSE:VMW), up 2.3%, after offering remedies to help rival Marvell (NASDAQ:MRVL), up 0.7%.
- Domino’s (NYSE:DPZ) stock rose 11.5% after the pizza firm announced a new agreement with Uber (NYSE:UBER), up 0.9%, that will allow customers to order Domino’s products through the food delivery company’s apps.
Nvidia, Microsoft, Netflix and Domino’s rise premarket; Illumina falls
(Source: Investing.com)
Some of the biggest movers:
Sealed Air’s Stock Upgraded Twice in a Week, Are You ‘SEE’-ing What We’re Seeing?
Get ready for some air-tight deals as Sealed Air (NYSE:SEE) receives its second upgrade this week, with analysts believing the company has been undervalued for too long.
Baird analysts upgraded the stock to Outperform from Neutral, while maintaining a $49 price target, joining BofA Securities who earlier upgraded Sealed Air to Buy from Neutral with a $52 price target. With the stock undervalued at 57% relative multiple, the question is: are you ‘SEE’-ing what we’re seeing?
Stock Analysis
If you’re looking for a bank that combines personalized service with financial expertise, look no further than Enterprise Bancorp Inc. This bank holding company knows how to take care of its small and medium-sized business clients and individuals alike, all while generating strong profits for its shareholders.
With $4.5 billion in assets and 27 branches across Massachusetts and Southern New Hampshire, Enterprise Bancorp is right at home in its local markets. When comparing Enterprise Bancorp to its peers, it looks like a real standout. Its return on equity is through the roof, bolstered by excellent earnings per share. And when you compare its revenue and net income to First Community Bankshares, you can see that Enterprise Bancorp is the stronger choice. Be sure to add this one to your investment portfolio!
Smart investing means taking your finances seriously and making informed decisions. Just like how you wouldn’t trust your aunt’s cousin’s brother’s nephew to build your dream house, you shouldn’t trust just anyone to handle your investments. Seeking professional advice can make all the difference in the investment game – after all, they didn’t get to be a pro by playing “eeny meeny miny moe”. With expert guidance, you can make sound investments that make your money work for you. So, invest smart, invest safe, and don’t play “eeny meeny miny moe” with your money!