US GDP and Core PCE top expectations
GDP rose 2.2% versus 1.5% expected. The GDP price index was 6.1% versus 6.4% expected, and core PCE prices were 3.3% versus 3.6% expected.
Story updates
12:37:30 PM UTC
SquawkNews
US STOCKS SNAPSHOT – Wall St futures extend gains after economic data
12:38:22 PM UTC
SquawkNews
U.S. AUGUST CORE PCE PRICE INDEX +0.2% M/M (VS +0.3% EXPECTED)
12:38:24 PM UTC
SquawkNews
U.S. AUGUST CORE PCE PRICE INDEX +3.0% Y/Y (VS +3.3% EXPECTED)
12:40:56 PM UTC
SquawkNews
US Core PCE Price Index (M/M) Aug: 0.2% (est 0.3%; prev 0.2%; prev R 0.1)
02:00:18 PM UTC
SquawkNews
Stocks advanced and short-dated Treasury yields fell after softer-than-expected inflation data strengthened bets that the Federal Reserve will hold off on raising interest rates in October. [8:30 ET] US Core PCE Price Index YoY Actual 3% (Forecast 3.3%, Previous 3.3%, Revision 3%) [US Dollar & US Bond Yields Weakened, US Stock Indexes Strengthened]
04:03:26 PM UTC
SquawkNews
Wall Street traders pushed stocks higher after softer-than-expected inflation data reinforced expectations that the Federal Reserve will hold off on raising interest rates in October. [8:30 ET] US Core PCE Price Index YoY Actual 3% (Forecast 3.3%, Previous 3.3%, Revision 3%) [US Dollar & US Bond Yields Weakened, US Stock Indexes Strengthened]