The July consumer price index (CPI) numbers are out.
CPI increased a seasonally adjusted 0.2% for the month and 2.7% on a 12-month basis. That compares to the respective estimates for 0.2% and 2.8%. Excluding food and energy, core CPI increased 0.3% for the month and 3.1% from a year ago, compared to the forecasts for 0.3% and 3%.
The July consumer price index (CPI) numbers are out.
The consumer price index was projected to increase 0.2% in July and 2.8% for the year ago on headline, and 0.3% and 3% on core. Annually, consumer prices were up 2.7%, which is less than expected with tariff concerns.
Bank of America just reiterated a buy rating on Nvidia following reports of a favorable deal for NVDA to receive chip export licenses.
According to the firm, as quoted by CNBC, “Busy period of interactions between the US Government (USG)/White House (WH) and major US chipmakers. The critical nature of semis is likely to enhance these interactions that will continue to be both positive and a headwind/source of volatility. Recent news involves: 15% potential tax/levy on sales of specific AI chips in return for China approvals: a net positive and we maintain Buys on NVDA, AMD.”
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Later this morning, we’ll see the July consumer price index (CPI), with hopes of gathering insight into how the Federal Reserve will interpret it with regard to interest rates.
Economists expect CPI to advance 0.2% month over month for July, and 2.8% on an annualized basis. Core CPI, which excludes food and energy, is expected to climb 0.3% month over month and 3% year over year.
“Investors seem to be betting on upcoming interest rate cuts and counting on them to counteract the drag from tariffs. We think it is too early to make that assumption,” said Brent Schutte, chief investment officer at Northwestern Mutual Wealth Management, as quoted by CNBC. “The degree of tariff impacts and how long they will take to work through the economy remain open questions. In the meantime, high equity valuations may heighten the impact any negative developments have on stock returns.”
In addition, President Trump just signed an executive order that will prevent tariffs on Chinese goods for another 90 days. This was the outcome of the latest talks between the U.S. and China, which took place in late July. If not extended, tariffs would have soared back to where they were in April.
Some of the top cannabis stocks are racing higher after President Trump said he might reclassify cannabis.
Canopy Growth, for example, jumped more than 26% yesterday on the news. Trulieve jumped 36%. And Tilray closed the day up about 42%. All could see higher highs when and if President Trump decides to reclassify cannabis. “We’re looking at reclassification,” Trump told CNBC. “We’ll make a determination … over the next few weeks.”
Also, the recent pullback in Chipotle may be nearing its end, according to Piper Sandler.
The firm just upgraded the stock to overweight with a $50 price target, which implies a 20% move from current prices. This comes just weeks after Chipotle cut its same-store sales outlook for 2025, which is now the second time it’s done that.
Starbucks may be setting up for gains, according to analysts at Baird. The firm upgraded SBUX to outperform with a price target of $115 a share.
“We continue to have high conviction that turnaround strategies under new leadership will be effective in transforming Starbucks into a better company, and we expect visibility to this outcome to become increasingly clear over the next several quarters,” said the firm, as quoted by CNBC. “Tangible evidence of progress toward better financial performance should provide a boost to investor sentiment, helping to support elevated valuation metrics on the shares as earnings start to rebound.”
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Ian Cooper is a veteran market analyst and investment strategist with more than 20 years of experience covering stocks, commodities, and macro trends. Since 1999, he has helped investors identify market opportunities using a blend of technical analysis, fundamental research, and market sentiment.
He is the creator of the ADD News Flow Strategy, which focuses on trading market reactions to major news events and investor psychology. Cooper was also among the analysts who warned about the 2008 financial crisis and major financial institution collapses ahead of the broader market.
Before joining 247 Wall St., Cooper wrote extensively for InvestorPlace and other financial publications, covering market trends, trading strategies, and investment opportunities.
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