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Here’s why the cooler consumer inflation we wanted flipped the stock market on its head

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Here’s why the cooler consumer inflation we wanted flipped the stock market on its head

An Aldi supermarket in Alhambra, California, US, on Thursday, June 27, 2024. 

Eric Thayer | Bloomberg | Getty Images

We finally got the consumer price index we were looking for, with both the June headline and core readings coming in slightly lower than expectations. The CPI bolstered the case for the Federal Reserve to start cutting interest rates. It also gave investors the green light to rotate out of this year’s tech winners and into rate-sensitive stocks.

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