US stocks Rise higher after cooler CPI data; Fed meeting due

U.S. Stocks Rise 😊

Today, U.S. stocks climbed thanks to a lower-than-expected increase in May's inflation. This news comes just before the conclusion of the latest Federal Reserve policy meeting.

Here's a quick look at the numbers:

📈 Dow Jones Industrial Average: Up 360 points (0.9%)

📈 S&P 500: Up 44 points (0.8%)

📈 NASDAQ Composite: Up 210 points (1.2%)

Cooler Inflation Data 😎

U.S. consumer prices in May rose by 3.3%, a bit slower than April's 3.4%. Month-on-month, the increase slowed to 0.0% from 0.3%. This suggests a possible easing in price pressures, which could affect future interest rate decisions by the Federal Reserve.

Fed Meeting Ahead 🏦

The Federal Reserve is wrapping up its two-day meeting today. Most expect interest rates to stay the same, but there's hope for hints at potential rate cuts down the road.

Tech Buzz 🤖

Oracle's stock surged 9% after announcing partnerships with OpenAI and Google Cloud, aiming to expand its AI reach. Rubrik also saw a 3% rise in stock value after beating first-quarter revenue expectations.

Nio, however, dipped 1.2% after the EU announced higher tariffs on Chinese electric vehicle imports.

Crude Oil Up ⛽

Crude oil prices increased, boosted by positive U.S. inflation data and optimistic global demand outlooks.

🛢️ U.S. crude futures (WTI): Up 1.7% to $79.20 per barrel

🛢️ Brent contract: Up 1.6% to $83.25 per barrel

Despite a bearish report from the International Energy Agency, citing slow demand growth, hopes are up with U.S. oil inventories shrinking more than expected last week.