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U.S. stocks are higher at midday Wednesday, led by technology and software shares, after softer-than-expected inflation data eased fears of another Federal Reserve rate hike. Oil is climbing again, however, and long-dated Treasury yields remain close to multi-decade highs. • United Therapeutics stock is charging ahead
August PCE inflation rose 0.3% month-on-month and 3.4% year-on-year, below expectations. Core PCE rose 0.2% monthly and 3.3% annually, also cooler than predicted. Second-quarter GDP was revised up to a 2.2% annualized rate, while September private sector jobs added by ADP surged to 90,000, exceeding forecasts.
Fundstrat’s Tom Lee stated that cooling inflation data and a shift in rhetoric from the Federal Reserve will benefit equities. A Shift in FOMC Hawkishness In a post on X, Lee offered what he called a “contrarian take” regarding the Federal Reserve’s monetary policy path. Lee noted that New York Fed President John Willi
The dollar index slipped to 101.1 on Wednesday as softer-than-expected inflation reinforced expectations that the Federal Reserve may leave interest rates unchanged in October. The headline PCE price index rose 0.3% mom, while core PCE, excluding food and energy, increased 0.2%. At the same time, consumer spending rema
USA Core PCE Price Index (MoM) For Aug. Revises Prior From 0.2% To 0.1%
USA Core PCE Price Index (MoM) For Aug. 0.2% Vs 0.3% Est.
US Core PCE Price Index MoM
US Core PCE Price Index MoM
Kevin Warsh used his first Jackson Hole keynote to reaffirm a 2% PCE target and say conditions are not restrictive, pushing markets to price more September rate-hike risk.
US core PCE Price Index MoM came in at 0.2%, matching the forecast and above the 0.1% prior reading.
US Core PCE Price Index MoM
US CPI comes in at 0.1% vs 0.1% consensus, with core CPI at 0.2% vs 0.2% consensus
US Core PCE Price Index MoM
US PCE Price Index MoM Actual -0.1% (Forecast -0.1%, Previous 0.4%)
US Core PCE Price Index MoM
USA Core PCE Price Index revises prior from 0.2% to 0.3% for May
US Core PCE Price Index rises 0.3% in May, meeting estimates.