Wall Street is on track for another day of gains following the release of the Fed's preferred inflation gauge for May.
My top 10 things to watch Friday, June 28 The S & P 500 and Nasdaq are on track for their fourth-straight session of gains Friday after the Federal Reserve's preferred inflation gauge showed that inflation cooled in May. Entering the final trading day of the second quarter, the S & P 500 has climbed 15% year to date while the tech-heavy Nasdaq has advanced 19%. The laggard Dow is up just 3.8%. The core PCE index in May rose 2.
The core PCE index in May rose 2.6% year over year, matching Wall Street estimates and representing the lowest annual increase since March 2021. In April, the inflation measure rose 2.8% annually. The CME FedWatch tool still indicates that the market expects the Fed to make its first rate cut during this inflation-fighting campaign in September. The Fed's post-June meeting projections were for one cut by the end of the year.disaster. What is going on here? The Dow stock sank more than 15% after the company missed on quarterly revenue and forecast a much larger than expected sales decline of 10% during its current quarter.
If you think Donald Trump is more likely to return to the White House after President Joe Biden's performance in Thursday night's debate, I think a second Trump administration would be pro-merger, anti-China, pro-energy, and anti-Mexico. I'm not pro-Trump. I'm not pro-Biden. I want to help people make money., which on Thursday cut profit guidance in what the drugstore chain called a challenging consumer environment. The Dow stock dropped another 1.
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