Ford Motor Co (NYSE:F) shares are trading higher by 1.92% to $14.04 Tuesday morning. Major indices are higher following a softer-than-expected CPI report, which showed slowing inflation in May.
The stock is higher by some 21% over the trailing month amid a series of analyst rating updates and news the company is adding Tesla Inc’s (NASDAQ:TSLA) plug to its EVs.
What Happened With Inflation Data?
In May, inflation exhibited a greater deceleration than anticipated, leading investors to grow more optimistic about the potential conclusion of Federal Reserve rate increases.
According to data released by the Bureau of Labor Statistics on Tuesday, the U.S. consumer price index (CPI) recorded a 4% year-on-year increase in May, compared to 4.9% in April.
This figure slightly undershot the average economist expectation of 4.1% and represents the lowest inflation reading since March 2021…Read More
According to data from Benzinga Pro, F has a 52-week high of $16.68 and a 52-week low of $10.61.
