Shares of industrial and transportation companies experienced an upswing as investors analyzed new data on inflation and consumer confidence, along with a wave of positive corporate earnings.
Inflation Remains Steady
According to the PCE index, the Federal Reserve’s preferred gauge of inflation, there was a slight 0.2% increase in June. This aligns perfectly with the predictions made by economists surveyed by The Wall Street Journal.
Yellow Seeks Strategic Solutions
In an effort to generate funds, struggling trucking company Yellow has entered discussions with multiple potential buyers for its Yellow Logistics division. Furthermore, the company has recently laid off a significant number of employees. These actions come as Yellow faces a liquidity crisis and considers various options, including the possibility of filing for bankruptcy.
International Consolidated Airlines Group Reports Positive First Half
International Consolidated Airlines Group announced a net profit for the first half of the year, attributing this success to strong demand and exceptional performance in its Spanish business sector. Additionally, the company expressed optimism for the summer period, as approximately 80% of anticipated revenue has already been secured through bookings.