Summary
After opening slightly higher on positive inflation news, the Nasdaq is down 1%, while the small-cap Russell 2000 is up 3%, a big move. The closely-watched Consumer Price Index outright declined during the month of June and is now running at an annual 3.0% pace, down 30 basis points from the rate through June. This is the lowest CPI rate since March 2021. On a core basis, excluding the impact of volatile
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