U.S. stocks are higher after the latest CPI report from the BLS showed that inflation increased less than expected in June.
The Dow is up 69 points, the S&P 500 is up 10 points, and the Nasdaq is up 35 points.
In addition to the CPI report, two other economic reports came out this morning: existing home sales and the Richmond Fed manufacturing survey.
Existing home sales climbed 2.6% in June to an annualized rate of 5.04 million, topping economists’ expectations for a 1.9% increase to a 4.99 million annualized rate.
The Richmond Fed’s latest manufacturing report came in at 7, beating expectations for a reading of 5 and jumping from last month’s reading of 3.
Activist investor Bill Ackman is also giving what he called “the biggest presentation of his career” this morning on Herbalife, a company he has been famously short for more than 18 months. Click here for our live coverage of Ackman’s presentation.
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