Stock Market Winners & Losers: Stocks Wobble as Inflation Cools | Inflation Cools to 3% Annual Rate | Summer Olympics Meets Online Gambling Boom
Stocks were mixed as consumer inflation data showed prices falling month-over-month for the first time since 2020. The Consumer Price Index (CPI) dropped 0.1% in June and increased 3% year-over-year. Gas and energy prices fell, but auto insurance and food prices rose.
Delta shares fell 8% after missing earnings estimates, and PepsiCo stock dipped due to disappointing revenue.
Olympics viewership has declined, but the upcoming Paris Games will see increased betting as legal gambling expands in the U.S. FanDuel and DraftKings dominate this market.
Additionally, the American gymnastics team unveiled $5,000 leotards, and Microsoft raised the Xbox Game Pass Ultimate price to $19.99 per month.
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