U.S. stock indexes opened modestly higher on Friday despite a stronger-than-expected reading on April inflation. The Dow Jones Industrial Average was up 50 points, or 0.2%, to 32,832:
U.S. stock indexes opened modestly higher on Friday despite a stronger-than-expected reading on April inflation, complicating the Federal Reserve’s decision on whether to keep raising interest rates at its June meeting. The Dow Jones Industrial Average DJIA, +0.65% was up 50 points, or 0.2%, to 32,832. The S&P 500 SPX, +0.60% added 0.
2%, and the Nasdaq Composite COMP, +0.85% advanced 0.3%. The core PCE index, the Fed’s preferred gauge of inflation, rose 0.4% in April, more than the 0.3% increase that economists had expected. Core inflation strips out volatile food and energy prices. The yearly increase in prices rose to 4.4% from 4.2% in the prior month, also higher than expected.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
US Core PCE Preview: Forecasts from four major banks, inflation to stay elevated in AprilThe Fed’s preferred inflation gauge, the Core Personal Consumption Expenditure (Core PCE), will be released by the US Bureau of Economic Analysis on F
Read more »
How can PCE inflation affect Federal Reserve decision in June?US Core PCE Inflation Preview: Preferred Federal Reserve indicator crucial for rate hike expectations – by FXstreetNews Inflation UnitedStates SEO Macroeconomics EURUSD
Read more »
USD Index retreats from recent peaks near 104.30 ahead of PCEThe USD Index (DXY), which measures the greenback vs. a basket of its main rival currencies, recedes from recent multi-week peaks near the 104.30 regi
Read more »
GBP/USD clings to gains above 1.2350, lacks follow-through ahead of US PCE Price IndexThe GBP/USD pair gains some positive traction on Friday and snaps a three-day losing streak to the 1.2300 neighbourhood, or its lowest level since ear
Read more »
AUD/USD eases from daily high after stronger US PCE Price Index, holds above 0.6500The AUD/USD pair stages a goodish rebound from sub-0.6500 levels, or the lowest level since November 2022 and maintains its bid tone through the early
Read more »
Forex Today: Market attention turns to US PCE inflation dataHere is what you need to know on Friday, May 26: The US Dollar (USD) stays relatively quiet against its rivals early Friday after having registered ga
Read more »