The July CPI report is pointing to signs of moderating inflation, continuing trends of cooling inflation data from the June print. Disney's (DIS) third-quarter earnings have been a "mixed bag", missing on revenue estimates, with CEO Bob Iger signaling future cost-saving strategies on the earnings call. Lastly, Chinese tech company Alibaba (BABA) reported surging revenue in its latest earnings report amid China's tech company crackdowns.
Yahoo Finance Live co-host Julie Hyman breaks down several top stories this morning.
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July CPI report: Monthly inflation falls in line with estimates, rises by 0.2%
This post was written by Luke Carberry Mogan.
Video Transcript
JULIE HYMAN: Inflation continues to moderate July's monthly figure on both the headline and core holding steady at 0.2%.
That all important core number also ticking down on an annual basis to 4.7%.
The report likely to encourage those thinking the Fed will not raise rates in September.
So is it still too soon to declare victory on price pressures?
That has been the line from the San Francisco Fed's Mary Daly in recent weeks.
We speak with her exclusively at 11:00 AM.
Something of a mixed bag for Disney.
The entertainment giant reporting fiscal third quarter earnings after the bell that beat expectations, but that really wasn't the story.
Shares slid at first but recovered ground during the earnings call.
Cost savings giving the stock a tailwind there.
The company sees full year 2023 capital expenditures totaling $5 billion.
That is lower than the prior $6 billion forecast.
The big takeaways-- international parks are doing well, advertising is still bumpy, and Disney+ and Hulu are getting more expensive and still losing money.
And for some, it's the ultimate proxy for the world's second biggest economy.
E-commerce giant Alibaba seeing revenue rise 14% on the year in the last quarter.
Revenue came in at 234.16 billion yuan versus the 224.9 billion expected.
Its overseas results were a tailwind here.
Revenue from international commerce surging by 60% on an annual basis.
Alibaba shares have had a rocky ride over the last few years, underperforming since late 2020 when the IPO of its financial arm Ant was abruptly halted.