Ticker | Status | Jurisdiction | Filing Date | CP Start | CP End | CP Loss | Deadline |
---|
Ticker | Case Name | Status | CP Start | CP End | Deadline | Settlement Amt |
---|
Ticker | Name | Date | Analyst Firm | Up/Down | Target ($) | Rating Change | Rating Current |
---|
Editor’s note: The headline and body of this story have been corrected to reflect that core PCE inflation was the lowest in May since March 2021 on a year-over-year basis.
The Federal Reserve’s preferred measure of inflation, the Personal Consumption Expenditure, continued to decline in May as economists expected, cementing market expectations Friday on upcoming Fed rate cuts.
In May, the rate of personal income rose more than expectations, while personal spending grew less than predicted. on a month-over-month basis, indicating some early signs of cooling consumer demand.
Prior to the inflation report, traders expected a 65% chance of a September rate cut, according to CME Group’s FedWatch Tool.
The fresh, cooler-than-expected data sparked downside reactions in Treasury yields, with the rate-sensitive two-year yield falling by 3 basis points to 4.68%.
Long-dated Treasury yields remained flat after going up overnight in reactions to the U.S. presidential debate.
Equity futures rose during the premarket trading. Contracts on the S&P 500 were 0.3% higher, while those on the tech-heavy Nasdaq 100 rallied 0.5%.
On Thursday, the SPDR S&P 500 ETF Trust (NYSE:SPY) closed 0.2% higher, marking its third straight session of gains.
Photo via Shutterstock.
Posted In: SPY