Reported 6 months ago
US stock indexes edged higher as cooling inflation data reinforced expectations for a Federal Reserve rate cut. The core personal consumption expenditures index met expectations, indicating room for interest rate cuts; with first-quarter GDP data revised lower due to soft consumer spending, the market anticipates at least one rate cut by September. Stocks rebounded after the PCE index stayed on target, while the 10-year Treasury yield dropped over four basis points. In other markets, oil and gold prices rose, and the 10-year Treasury yield fell.
Source: YAHOO