tl;dr
The latest U.S. Consumer Price Index (CPI) for May 2024 rose 3.3% annually, slightly below the forecast of 3.4% and April’s figure. This continues the trend seen in recent months, with the CPI hovering around the 3.3% to 3.5% range. Month-over-month, the CPI increased by 0.31%, reaching a value of 3...
U.S. CPI Dips to 3.3%: Bitcoin Reacts Positively
The latest U.S. Consumer Price Index (CPI) for May 2024 rose 3.3% annually, slightly below the forecast of 3.4% and April’s figure. Month-over-month, the CPI increased by 0.31%, reaching a value of 313.21.
Notable Movements in CPI Categories:
- The medical care index saw a marginal increase of 0.4%.
- Used cars and trucks experienced a notable decline of 1.4%.
- Energy and food prices saw minor increases, contributing to the overall change.
The modest rise in medical and shelter costs influenced the slight decrease in annual CPI, impacting financial markets. Specifically, the shelter index remains a primary driver of the year-over-year increase.
Investors Eye Bitcoin Amid CPI Release:
Following the CPI release, Bitcoin experienced a notable price increase, highlighting its potential role as an inflation hedge. This movement underscores the growing trust in cryptocurrency amid inflation concerns.
More about C3 Ai Inc
Stock Market Analysis: C3 Ai Inc (C3)
C3 Ai Inc (C3) operates in the Technology, Services-Prepackaged Software sector with a market cap of 3.87 billion. The stock has shown a -2.34% change in price, closing at 29.35.
The Relative Strength Index (RSI) stands at 2.602, indicating a neutral position. The stock is currently below the 200-day moving average of -0.901.
The trading volume for C3 was 310,582,000, with a beta of 0.196.
Overall, C3 Ai Inc's stock is showing signs of potential stability with neutral RSI and a position below the 200-day moving average. However, the negative price change should be considered in the context of the overall market trend.
More about Core Scientific Inc. Common Stock
Stock: Core Scientific Inc. Common Stock
Description: Core Scientific, Inc. provides blockchain and artificial intelligence (AI) infrastructure services in the United States. The company is headquartered in Austin, Texas.
Sector: Technology
Industry: Services-Computer Processing & Data Preparation
Market Cap: 542,047,000
Dividend Yield: None
EPS: 1.323
P/E Ratio: -0.491
Volume: 502,400,000
Current Price: 6.75
52-week High: 0
52-week Low: 0.171
More about Hut 8 Corp. Common Stock
Stock Analysis: Hut 8 Corp. Common Stock Summary of Technical Analysis
Hut 8 Corp. Common Stock
Sector: FINANCE
Industry: FINANCE SERVICES
Volume: 157,304,000
Current Price: $15.11
52-Week Range: $5.56 - $15.11
Support Level: $2.307
Resistance Level: $2.499
Change: -0.79
More about Iris Energy Ltd
Stock Market Analysis: Iris Energy Ltd Stock Market Analysis: Iris Energy Ltd
Sector: TECHNOLOGY, SERVICES-COMPUTER PROCESSING & DATA PREPARATION
Revenue: 1810312000
Profit Margin: -0.06
Earnings per Share (EPS): 2.179
Return on Equity (ROE): -0.0532
Volume: 165535000
Dividend Yield: 12
P/E Ratio: 0
Market Cap: 3.798
More about Li Auto Inc
Li Auto Inc. Stock Analysis Summary
Li Auto Inc. designs, develops, manufactures, and sells smart electric sport utility vehicles (SUVs) in China. The company is headquartered in Beijing, China.
Industry: Manufacturing, Motor Vehicles & Passenger Car Bodies
Market Cap: 207.91B
Current Price: $12.64
Dividend Yield: None
P/E Ratio: 1.51
52-Week Range: $87.00 - $132.36
RSI (14): 0.087
Volume: 130,697,937
EPS: $37.91
Change from 50-Day Moving Average: -0.378
Change from 200-Day Moving Average: 0.364
More about Emeren Group Ltd
Stock Analysis Summary
Company: Emeren Group Ltd, ReneSola Ltd
Industry: Manufacturing, Semiconductors & Related Devices
Market Cap: 102,534,000
Dividend Yield: None
EPS: -0.16
Revenue: 1,918
Operating Margin: -0.127
Volume: 106,582,000
50-Day Moving Average: 4.88
200-Day Moving Average: 3.42
Relative Strength Index (RSI): 0.148