June CPI, Delta shares sink on weak guidance: Yahoo Finance

Wall Street is digesting June’s Consumer Price Index (CPI) report, which provides key insight into the state of inflation. According to the CPI data, inflation fell by 0.1% month-over-month as experts anticipated a 0.1% monthly gain. Prices rose 3.0% annually, lower than the estimate of 3.1%.

Markets are pricing in an interest rate cut by the end of the year as the data-dependent Federal Reserve continues to weigh the timing. The Nasdaq Composite (^IXIC) and S&P 500 (^GSPC) closed at record highs in Wednesday’s session, and investors are closely watching how the print may impact the indexes’ rally. As the consumer remains in focus, shares of Costco (COST) are soaring after the retailer announced it will hike its membership fees for the first time in seven years. On the other hand, shares of Delta (DAL) are sinking after the airliner's second quarter profits and third quarter guidance fell short of analyst expectations.

Yahoo Finance trending tickers include SoundHound AI (SOUN), HubSpot (HUBS), and Nio (NIO).

Key guests include:
9:00 a.m. ET - Mark Zandi, Moody's Analytics Chief Economist
9:45 a.m. ET - Nicolas Owens, Morningstar Industrials Equity Analyst
10:00 a.m. ET - Krishna Memani, Lafayette College CIO
10:45 a.m. ET - Kyle Stanford, Pitchbook lead VC analyst
11:20 a.m. ET - Ken Mahoney, Mahoney Asset Management CEO