Good afternoon and welcome to Markets Desk, your midday read on the stories moving markets and the broader economy.
Cigna Group posted a strong second quarter, reporting net income of nearly one point seven billion dollars despite persistent elevated medical costs that continue to pressure the entire health insurance sector. The results mark a notable start for the company's incoming chief executive, signaling that Cigna's diversified model is holding up under industry-wide margin stress.
Turning to commodities, gold prices are holding marginally higher Thursday as investors weigh escalating tensions in the Middle East against the upcoming personal consumption expenditures price data. The PCE report is the Federal Reserve's preferred inflation gauge, and traders are staying cautious ahead of the print, reluctant to make big directional bets before seeing whether price pressures are truly cooling.
On the policy front, early estimates suggest the two thousand twenty seven Social Security cost of living adjustment could land somewhere around three point eight percent. That figure is derived from inflation trend projections and carries real significance for tens of millions of retirees whose purchasing power hinges on that annual recalculation. Final numbers won't be confirmed until later this year.
That's the tape. Markets Desk, signing off the floor.
