Stock futures rise slightly in overnight trading following the market’s losing
13 Mins Ago
Bank of America says this week’s CPI should be ‘a confidence building report’
Bank of America economists believe Wednesday’s inflation report should show a moderation in price pressures, providing confidence to the Fed for a rate cut in June.
The Wall Street firm expects the core consumer price index to moderate to 0.2% in March after rising 0.4% in February and January. It sees declines in car prices that should lead to a drop in core goods. Meanwhile, the bank expects a bigger-than-usual rise in energy prices, however.
“The moderation in core CPI should reflect a drop in core goods prices and a more modest price increase in core services,” the bank’s economists said in a note. “A report in line with our expectations would provide confidence to the Fed and keep a June cut firmly in play.”
— Yun Li
52 Mins Ago
Elon Musk announces Tesla robotaxi unveil date
Shares of Tesla jumped 3.8% in after-hours trading Friday after CEO Elon Musk said his electric vehicle company is set to unveil robotaxi later this year.
Musk said in a Friday night post on social media platform X that the unveil will take place on Aug. 8.
Musk has spoken about the robotaxi project for years. Tesla still has yet to deliver a robotaxi, autonomous vehicle or technology that can turn its cars into “level 3” automated vehicles.
— Yun Li
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