Bloomberg

US inflation accelerated in May to the fastest pace in more than three years as the Iran war pushed up energy prices, outstripping Americans' pay gains. Tiffany Wilding, Economist: North America at PIMCO, reacts to the May CPI report.

On this episode of Stock Movers with Alexis Christoforous: - Cracker Barrel (CRBL) is rising after the restaurant chain boosted its revenue guidance for the full year, beating the average analyst estimate. Short interest is about 27% of float, according to S3 Partners data. - Chewy (CHWY) shares are up after the online retailer of pet food and pet-related products reported better-than-expected first quarter results. Management cut the full year net sales outlook, but maintained its adjusted Ebitda margin guidance. - FedEx Freight (FDXF) is sliding after Amazon expanded its LTL freight offering to all destinations in the US, including third-party warehouses, distribution centers and retail partners.

"The year of the IPO is definitely on," Martin Brand, head of Blackstone Capital Partners, says while speaking with Bloomberg's Dani Burger at the SuperReturn International Conference in Berlin.

Pimco Economist Tiffany Wilding doesn't expect the Federal Reserve to move its inflation target of 2%. She also thinks the Fed will drop its forward guidance at the next meeting. She speaks on "Bloomberg Surveillance."

Mike Wilson, Morgan Stanley's chief US equity strategist and CIO, explains the recent market volatility is part of an ongoing rotation among cyclical and commodity sectors. He highlights that earnings revision breadth has reached unsustainably high levels, particularly in the semiconductor sector, signaling a near-term rollover. He speaks on "Bloomberg Open Interest."

David Kelly, chief global strategist at JPMorgan Asset Management, says there's a good chance that May "will actually turn out to be the high-water mark for inflation in this cycle" as he examines what the CPI report means for Federal Reserve policy at the June meeting.

Mike Wilson, Morgan Stanley's chief US equity strategist and CIO, says the recent equity and debt offerings signal a healthy market. Speaking with Matt Miller on "Bloomberg Open Interest," Wilson says there's enough capital out there to absorb all of the recent IPO activity.

US inflation accelerated in May with the Iran war pushing up energy prices, as the consumer price index climbed 4.2% from a year earlier, the most since early 2023. The core CPI, which excludes food and energy, increased 0.2% from April and 2.9% from a year earlier. Michael McKee breaks down the numbers on Bloomberg Television.

SpaceX's initial public offering has attracted demand from institutional investors for multiple times the available shares, according to people familiar with the matter. Banks are expected to stop taking orders from institutional investors at the market close on Wednesday. The IPO is set to price June 11 and trade the following day. Bloomberg's Ed Ludlow reports.

Dan Ives of Wedbush Securities talks about the upcoming SpaceX IPO and how it could impact tech stocks. He speaks on "Bloomberg Surveillance."