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VERIFIEDBy Xavier Rivera· ·1.5 min read

Inflation cools, IBM plunges 25%, Morgan Stanley beats

Inflation cooled sharply in June while Morgan Stanley delivered record earnings and IBM suffered its worst trading day on record. Markets reacted positively to the inflation data and bank results but remain on edge over potential oil-price spikes from Middle East conflict.

Source:CNBC Tech

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Inflation cools, IBM plunges 25%, Morgan Stanley beats

TL;DRAI · 60 sec read

U.S. inflation eased in June as energy prices dropped, delivering a lift to stocks even as geopolitical tensions in the Strait of Hormuz threaten to reverse the gains. Big-bank earnings stayed strong with Morgan Stanley posting records, while IBM suffered its worst day ever after weak results and a shift in client spending.

U.S. inflation posted its largest monthly decline since 2020.

U.S. inflation posted its largest monthly decline since 2020. Government data released on July 14 showed energy prices cooled in June, helping curb overall inflation. The better-than-expected print pushed stocks higher across all three major averages that day, though renewed U.S. strikes on Iran and a Navy blockade of Tehran’s ports could push oil prices and inflation higher again. Source: CNBC ↗

POST FROM @CNBC· official CNBC tweet promoting the exact Morning Squawk article

https://x.com/CNBC/status/2077374351008051354

IBM stock plunged 25% after weak preliminary Q2 results. The company reported $2.93 in adjusted earnings per share on $17.2 billion in revenue, missing analysts’ forecasts of $3.01 and $17.86 billion. CEO Arvind Krishna attributed the shortfall to clients shifting spending toward memory chips and hardware rather than software and infrastructure. Source: CNBC ↗

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Cybersecurity stocks rallied on IBM’s comments about client priorities. CrowdStrike, Okta and Netskope each posted double-digit percentage gains after IBM’s CEO told CNBC that cyber fears remain a top priority for customers. The moves contrasted with IBM’s own steep decline on the same trading day. Source: CNBC ↗

IBM stock plunged 25% after weak preliminary Q2 results.

Morgan Stanley reported record quarterly revenue and profit. The bank posted $3.46 in earnings per share on $21.35 billion in revenue, beating Wall Street expectations of $2.94 and $19.64 billion. Revenue from its equities trading business jumped nearly 70%, helped by the artificial intelligence boom driving trading and dealmaking activity. Source: CNBC ↗

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Markets Earnings Inflation IBM Morgan Stanley

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