June's Consumer Price Index (CPI) report is showing inflation to have fallen 0.1% month-over-month, as annual inflation picked up by 3.0%. The data is indicating cooling inflation as it came under estimates over a 0.1% increase in June and a 3.1% year-over-year rise.

Seana Smith and Brad Smith crunch the numbers on what this latest inflation report indicates about the US economy and which direction the Federal Reserve may start to push interest rates, talking to leading economists and top market strategists on the issue.

When stripping out inflation stressors such as housing costs, Moody's Analytics chief economist Mark Zandi states the Fed's 2% inflation target is "dead ahead."

Delta Air Lines (DAL) stock is having a downbeat morning after reporting a second-quarter earnings miss. Delta CEO Ed Bastian told Yahoo Finance that low-end consumers are still facing pricing challenges while summer travel demand spikes significantly.

Other top trending tickers on the Yahoo Finance platform include Darden Restaurants (DRI), Conagra Brands (CAG) as the food company posted mixed fiscal fourth-quarter results, and wholesale retailer Costco (COST).

This post was written by Luke Carberry Mogan.