CPI Hit 4.2 Percent on Energy, WTI Settled $88.20, and FDA Added Bemotrizinol Wednesday’s Daily Update — twenty-four stories on May CPI, a failed chip bounce, a Hormuz shipping claim, and a sunscreen monograph that is not a bottle yet.
The briefing is short. Your takes don’t have to be.
May CPI printed 4.2 percent because energy did the work, Tuesday’s Nasdaq reverse erased Monday’s chip bounce, and WTI settled $88.20 after Wright said Hormuz traffic is rising.
CPI-U +0.5% in May and +4.2% year over year. Energy +3.9% monthly and +23.5% yearly, more than 60% of the monthly rise. Core +0.2% / +2.9%. Embargo lifted 8:30 a.m. ET. S&P 7,386.65 (−0.26%), Nasdaq 25,678.82 (−0.97%), Dow 50,872.11 (+0.17%). Apple −3.64% to $290.55. SpaceX’s IPO is still Friday; $1.75 trillion is a private mark. WTI settled $88.20 (−3.4%). Wright: Hormuz traffic is “rising very meaningfully.” Trump floated a two-to-three-day deal that would open the strait; there is no signed notice to mariners. FDA added bemotrizinol to M020 at up to 6%, effective August 9 — first new OTC sunscreen active since the late 1990s. GRASE is a monograph claim, not a CVS bottle this morning. Check Point CVE-2026-50751 is due Thursday; the jumbo is SK185033. OpenAI posted a confidential S-1 because it expected a leak. Hurricanes 5–3 at T-Mobile; Staal twice; series 2–2. Browse past Daily Updates · Permalink for this edition