What's Going On With Microsoft Shares

Microsoft Corp (NASDAQ:MSFT) shares are trading marginally higher by 0.91% to $345.78, off the session high of $351.43, Friday afternoon. The stock is higher by 3.35% for the week following the release of June CPI data, which indicated inflation rates lower than initial expectations.

Markets are also reacting positively this week after the Producer Price Index (PPI) for final demand recorded a 0.1% month-on-month rise in June, the Bureau of Labor Statistics said Thursday, rebounding from the revised 0.4% drop recorded in May but below the expected 0.2% rise.

Microsoft shares have experienced a notable surge of approximately 44% on a year-to-date basis, largely attributed to the heightened interest among investors in stocks associated with artificial intelligence.

What Happened With U.S. CPI Inflation?

U.S. CPI inflation in June decelerated more than anticipated, reinforcing investor expectations of a single rate hike by the Federal Reserve followed by a halt to its tightening cycle. The Bureau of Labor Statistics' data reveals a drop in the annual inflation rate from 4% in May to 3% in June, slightly below the average economist forecast of 3.1%.

This marks the twelfth consecutive month of declining inflation and the lowest reading since March 2021...Read More

See Also: Semiconductor Winners And Losers Are Growing Apart

According to data from Benzinga Pro, MSFT has a 52-week high of $351.47 and a 52-week low of $213.43.