Reported 4 months ago
US stock indexes rallied after the release of a positive Personal Consumption Expenditures report, with the S&P 500 and Dow Jones rising while the Nasdaq remained mostly flat. The report showed inflation meeting expectations, increasing the likelihood of a Fed rate cut. The key metric, core PCE, rose 0.2% in April and 2.8% annually, slightly above consensus. This data suggests a potential economic slowdown, keeping the possibility of 1-2 rate cuts this year. Small cap companies may remain stagnant until there is more clarity on rate cuts. At the closing bell, the S&P 500 was up 0.8%, the Dow rose 1.5%, and the Nasdaq was nearly unchanged.
Source: YAHOO