FED’S FAVORITE INFLATION GAUGE BETTER THAN EXPECTED, RUSSIA MOVES OUT OF SNAKE ISLAND
By Nigam Arora & Dr. Natasha Arora
To gain an edge, this is what you need to know today.
PCE
Please click here for a chart of S&P 500 ETF (SPY) which represents the benchmark stock market index S&P 500 (SPX).
Note the following:
- PCE is the Fed’s favorite gauge of inflation. The data just released shows good news. Here are the details:
- PCE came at 0.6% vs. 0.7% consensus.
- Core PCE came at 0.3% vs. 0.4% consensus.
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- The data would have normally caused a 1000 Dow point rally, but futures are way down for the following reasons.
June 30, 2022