🥗 Inflation persists

Good morning investors! Only a handful of major names are left to announce earnings this season and focus will once again be on economic reports this week.

Today we cover:

• Inflation isn’t dying.

• New plane orders.

• Free stocks.

Why not check our Twitter handle for the latest, including a market recap every weekend?

📊 Economy and News 

Inflation isn’t really falling

Inflation in April remained at the same persistently high level as in March, indicating that costs continue to rise too quickly for consumers. This suggests that the Federal Reserve still has significant work ahead in its effort to combat rising prices.

According to Commerce Department data released on Friday, the Personal Consumption Expenditures (PCE) price index—a key inflation measure used by the Fed for its 2% target—increased by 0.3% from the previous month, resulting in an annual rate of 2.7%, consistent with March’s figures.

While food prices decreased for the month, gas prices increased by 1.2%. Prices for goods and services rose by 0.2% and 0.3%, respectively. Annually, services inflation stands at 3.9%, while goods inflation is nearly flat at 0.1%.

Excluding the more volatile categories of food and energy, the core PCE price index showed a slower monthly increase, rising by 0.2% compared to a 0.3% gain in March.

On an annual basis, the core PCE price index remained steady at 2.8% for the third consecutive month.

Global hits:

• FCC ends affordable internet program due to lack of funds.

• Egypt's economy likely to grow by 4.2% next year.

• Fashion firm Shein to file 50 billion pound London IPO prospectus

Surprising: OPEC+ extends deep oil production cuts into 2025.

📈 Stocks

S&P 500 5,277.51 (+0.80%)
DJIA 38,686.32 (+1.51%)
NASDAQ 18,536.65 (-0.11%)
BRENT CRUDE 80.83 (-0.05%)
* Prices as of Jun 3rd, 12:20 AM UTC

New plane orders are coming

Qatar Airways is nearing a decision on a major widebody order split between Boeing and Airbus.

The Middle East carrier is looking at ordering about 200 jets, looking at a mix of Airbus A350s and Boeing 777X models, with a decision possible as soon as the Farnborough Air Show in Britain late next month.

This will be the first major order for Boeing since the company entered into a crisis earlier this year. It has reached a point where Emirates boss thinks Boeing needs strong CEO to end crisis.

There, however, is some hope for the company as even Pegasus is rumored to be planning a big order, which might benefit Boeing.

Something about pharma: Pfizer’s drug for advanced lung cancer shows promising long-term trial results. On the other hand, FDA has approved Moderna’s RSV vaccine for seniors.

💵 Personal Finance

Get free stocks – part I

We thought of surprising our readers with this incredible piece today. They say there are no free lunches in this world, but if you are at the right place, you can have a buffet. And, we’re serving one here by helping you get your hands on stocks for ‘free’.

Note: Some apps out there offer free shares when you sign up. However, there might be additional requirements, i.e.: you must be from a specific country.

So, let’s look at our top picks:

Plynk Investment App

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It is available on both Android and iOS devices and is known for being safe and secure thanks to data encryption, monitoring, and more such features. Plus, your deposits are SIPC-protected up to $500K.

This isn’t the only one, check tomorrow’s issue for some more ways to get free stocks.

💰 Be a Better Investor

👩🏽‍⚖️ Legal Stuff
Nothing in this newsletter is financial advice. Always do your own research and think for yourself.

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