Latest news with #PCEIndex
Mint
8 hours ago
- Business
- Mint
Wall Street week ahead: All eyes on Middle East conflict, Jerome Powell's testimony, PCE inflation, personal income data
Amid the escalating Middle East conflict, Wall Street investors will have a plenty of economic data to look forward to in the week ahead. Tensions in the West Asia deepened after the United States joined Israel in attacking Iran. The US attacked three nuclear sites in Iran on early Sunday. In an address to the nation from the White House, US President Donald Trump said that Iran's key nuclear sites were 'completely and fully obliterated'. In response, Iran's Foreign Minister Abbas Araghchi stated that the time for diplomacy had passed and that his country had the right to defend itself. 'The warmongering, a lawless administration in Washington is solely and fully responsible for the dangerous consequences and far reaching implications of its act of aggression,' he said at a news briefing in Turkey. In terms of the US economic data, focus of market participants will be on the Personal Consumption Expenditures Price Index, the Federal Reserve's preferred inflation gauge, personal income and spending data, and home sales numbers. Spotlight will also be on US Fed Chair Jerome Powell's testimony before the House Financial Service Committee on Tuesday and Wednesday. On June 23 (Monday), separate reports on S&P flash US services PMI for June, S&P flash US manufacturing PMI for June, existing home sales for May will be released. On June 24 (Tuesday), data on S&P Case-Shiller Home Price Index (20 cities) for April and consumer confidence for June will be declared. US Federal Reserve Chair Jerome Powell is scheduled to testify before the House Financial Service Committee on Tuesday. On June 25 (Wednesday), data on new home sales for May will be released. On June 26 (Thursday), separate reports on advanced US trade balance in goods for May and second revision of first quarter Gross Domestic Product (GDP) will be released. On June 27 (Friday), data on consumer sentiment (final) for June, personal income for May, personal spending for May, and PCE Index for May will be released. Following companies are due to report first quarter results in the week ahead — FactSet Research, Commercial Metals, FedEx, Carnival Corp, BlackBerry, Micron, Paychex, Daktronics, Nike, Walgreens Boots, and Concentrix. US stocks closed mixed on Friday. The S&P 500 lost 0.21%, while the Nasdaq Composite shed 0.49%. The Dow Jones Industrial Average, however, rose 38.47 points, or 0.09%, to 42,210.13. In the bond market, the yield on the 10-year Treasury edged down to 4.37% from 4.38%. The 2-year yield fell to 3.90% from 3.94%. Oil prices fell on Friday as the US imposed new Iran-related sanctions, marking a diplomatic approach that fed hopes of a negotiated agreement. Brent crude futures ended down $1.84, or 2.33%, to $77.01 a barrel. US West Texas Intermediate crude for July lost 21 cents, or 0.28%, at $74.93. Brent rose 3.6% on the week, while front-month US crude futures increased 2.7%.
Yahoo
30-05-2025
- Business
- Yahoo
Stock Market Today: A choppy stock day; a tweet on China; inflation cools; Nvidia, Tesla, Palantir
Stock Market Today: A choppy stock day; a tweet on China; inflation cools; Nvidia, Tesla, Palantir originally appeared on TheStreet. It's a bit of a choppy morning on Wall Street. Stocks opened lower after the president tweeted that China had "totally violated its agreement with us." Breadth was weak, too, with 80% of S&P 500 stocks on the decline. At the same time, the index is well off the day's lows. As the heat map shows, it's a mixed day. In the upper right corner is Costco () . The warehouse-club retailer's shares are higher following yesterday's earnings and revenue report, which beat expectations. Although the reaction was muted in after-hours trading, the shares are up 3% on strong volume. This shouldn't be a surprise to members of TheStreet Pro. Our Bob Lang wrote Tuesday that Costco shares were primed to hit new highs following the earnings report. Costco is also viewed positively within TheStreet Pro's Portfolio, and although we don't currently own it there, it's a stock we would like to buy on pullbacks. Another stock that's up is the data-analytics-software provider Palantir () . That's a stock favored by TheStreet Pro's Stephen "Sarge" Guilfoyle. It's trading just below all-time highs. The New York Times reports that "Trump Taps Palantir to Compile Data on Americans" as part of his March executive order requiring data sharing across government agencies. At the same time, Sarge reports that he's taken some profits in Palantir and other tech names. He still likes the stock, but is a trader at heart. You won't go broke taking a profit! The weekend is almost here! We're expected to have a lovely one in Colorado. I hope yours will be similarly wonderful. I wasn't planning to start the day with a tweet, but let's do it. This has prompted what was a fairly flat market to drop today. As I write this, S&P futures are down 33 points. The Nasdaq is lower by 130, and crude oil is now down 52 cents after being about 70 cents higher. Here's an overnight chart of the S&P 500. It's hard to tell now if we're in for a wild ride today or whether traders are having a level of fatigue and will watch before making further reactions. In the meantime, we just got today's big economic news. The PCE Index, short for Personal Consumption Expenditures Index, is a measure of inflation. The Bureau of Economic Analysis reports that April's PCE increased by $47.8 billion, or 0.2%, which was 2.1% higher than a year earlier but lower than the 2.3% expectation. In other words, inflation is cooling. The PCE is the Federal Reserve's preferred benchmark for prices as it determines interest-rate policy. Premarket most actives include Nvidia () , which had been down as much 1.4% but is now 0.4% lower. Jim Cramer attributes the dip to "meme money," which, to be honest, is driving so much of our markets these days. And hey, while we're at it, let's talk Tesla () . Well, Elon Musk, actually. Today is expected to be the billionaire's last day in office as his official time with Doge comes to an end. Expect a news conference later this afternoon from the Oval Office with Musk and President Trump. However, the New York Times reports today that Musk used heavy amounts of drugs while on the campaign trail last fall with Trump. In fact, the paper reports, his use of ketamine was so great that he suffered from bladder problems, a known effect of chronic use. As Musk integrates himself back into Tesla leadership, shareholders will likely question him on this and it could become an issue. Stock Market Today: A choppy stock day; a tweet on China; inflation cools; Nvidia, Tesla, Palantir first appeared on TheStreet on May 30, 2025 This story was originally reported by TheStreet on May 30, 2025, where it first appeared. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
30-05-2025
- Business
- Yahoo
PCE Posts Highest Monthly Percentage Move in Four Years
The Fed's preferred measure of inflation, Personal Consumption Expenditures (PCE), are out for the month of April. Results were positive across the board — eyebrow-raisingly so, in some cases. In fact, these figures have been strong enough to cut in half the pre-market plummet on the major indexes once President Trump posted 'No more Mr Nice Guy' in his trade negotiations with China. At this hour, the Dow is -114 points, the S&P 500 is -18, the Nasdaq -45 and the small-cap Russell 2000 is -10 points currently. The Dow, for instance, had fallen -244 points on the president's latest Truth Social post. Bond yields, on the other hand, are ticking up early today: +4.44% on the 10-year, +3.93% on the 2-year and +4.95% on the 30-year bond. Personal Income for April reached its highest single-month level in four years: +0.8% — well above the +0.3% expected and even above the upwardly revised +0.7% for March. We now see income growth in 2025 among the highest in many years, averaging +0.65% over the past four months. Consumer Spending, however, was in-line with expectations at +0.2% — half a point lower than the prior month's +0.7%. This is good news in terms of demonstrating economic strength amid plenty of murkiness among outlooks, though not exactly a feather in the cap for those who'd like to see the Fed lower interest rates. The PCE Index, month over month, was also as expected at +0.1%, up from the 0.0% reported the previous month. Year over year, +2.1% PCE is down 10 basis points (bps) from estimates. This also represents a low water mark last seen back in September of last year. Core PCE month over month — stripping out volatile food and energy costs — was identical to the overall headline: +0.1%, following 0.0% the prior month. Year over year, core PCE dropped to +2.5%, 10 bps below estimates and 20 bps beneath the upwardly revised +2.7% for March. Again considering our current environment, starting with early April's opening salvo into the latest global trade war, Advanced Retail Inventories are steady and benign: -0.1% on headline, in-line with expectations and -0.1% reported a month ago. Advanced Wholesale Inventories was flat for April, down from the +0.4% seen in the March report. Perhaps it will take some more distance from tariff Ground Zero to see how the new trade realities manifest in these reports. After all, these numbers are all subject to future revisions, and most of the tariff threats have yet been put on pause. But for now, it's tough to find a complaint; things appear to be working on the more macro-level. Advanced Trade Balance in Goods for April came in well below expectations: -$87.6 billion, the lowest since September of 2023. Analysts had expected -$147 billion, following a slight trimming to -$162 billion the previous month. This is the first advance trade deficit sub-12 digits since October of last year. At first blush, one would have to assume this has to do with the trade impact. Then again, as we see in the other data reflecting tariffs and trade, much of the grist has yet to meet the mill. But if this does prove to be a resonant part of our new trade scenario, it's certainly a welcome one. Once the opening bell sounds on this final trading day for the week, the Chicago Business Barometer (PMI) for May is expected, as is final Consumer Sentiment, also for May. The former is expected to improve somewhat, though still come in sub-50, which is the tipping point between growth and loss. The latter is forecast to remain steady just over this 50 precipice. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report This article originally published on Zacks Investment Research ( Zacks Investment Research Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Miami Herald
30-05-2025
- Business
- Miami Herald
Stock Market Today: A tweet on China, inflation cools, plus Nvidia and Tesla
The weekend is almost here! We're expected to have a lovely one in Colorado. I hope yours will be similarly wonderful. I wasn't planning to start the day with a tweet, but let's do it. This has prompted what was a fairly flat market to drop today. As I write this, S&P futures are down 33 points. The Nasdaq is lower by 130, and crude oil is now down 52 cents after being about 70 cents higher. Here's an overnight chart of the S&P 500. ThinkOrSwim It's hard to tell now if we're in for a wild ride today or whether traders are having a level of fatigue and will watch before making further reactions. In the meantime, we just got today's big economic news. The PCE Index, short for Personal Consumption Expenditures Index, is a measure of inflation. The Bureau of Economic Analysis reports that April's PCE increased by $47.8 billion, or 0.2%, which was 2.1% higher than a year earlier but lower than the 2.3% expectation. In other words, inflation is cooling. The PCE is the Federal Reserve's preferred benchmark for prices as it determines interest-rate policy. Premarket most actives include Nvidia (NVDA) , which had been down as much 1.4% but is now 0.4% lower. Jim Cramer attributes the dip to "meme money," which, to be honest, is driving so much of our markets these days. And hey, while we're at it, let's talk Tesla (TSLA) . Well, Elon Musk, actually. Today is expected to be the billionaire's last day in office as his official time with Doge comes to an end. Expect a news conference later this afternoon from the Oval Office with Musk and President Trump. However, the New York Times reports today that Musk used heavy amounts of drugs while on the campaign trail last fall with Trump. In fact, the paper reports, his use of ketamine was so great that he suffered from bladder problems, a known effect of chronic use. As Musk integrates himself back into Tesla leadership, shareholders will likely question him on this and it could become an Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc.
