S&P 500 Rises on Lower June Inflation; IBM Stock Drops After Profit Warning
The S&P 500 and Nasdaq rose following weaker-than-expected June CPI data, which reduced the likelihood of an immediate Fed rate hike. However, oil prices surged due to geopolitical tensions in the Strait of Hormuz, while IBM shares fell sharply after a profit warning.
Tickers: $IBM
Topics: CPI data IBM stock decline oil prices S&P 500