Inflation surged in Jun. amid tariffs
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The consumer price index rose 2.7% on an annual basis in June 2025, up from 2.4% in May, according to the Bureau of Labor Statistics. However, the full impact of President Donald Trump's tariffs is still to come,
Inflation is speeding up after a period of cooling down earlier this year.
Wall Street braces for June CPI data, as economists warn of hotter inflation driven by tariffs. A surprise print could jolt markets.
Consumer inflation had dipped to 2.82% in May. CPI data allows India room to ease rates at a time when Trump tariffs threaten growth. India's economy rose by a faster-than-expected 7.4% in the quarter ended March.
The president is heaping criticism on Fed Chairman Jerome Powell as markets await the latest inflation numbers.
Key Takeaways Earnings updates from several top financial institutions are scheduled, including JPMorgan Chase, Wells Fargo, Morgan Stanley, and Goldman Sachs. Investors also will be watching for earnings from TSMC,