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Economic Contraction
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:
- The chart shows when PCE was reported. PCE is the Fed’s favorite inflation gauge. Headline PCE was better than the consensus, but Core PCE was in line with the consensus. At the same time, weekly jobless claims, personal income, and personal spending were reported. These numbers showed the consumers are very strong and the jobs picture remains healthy.