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Stocks in the US sink as Fed waits


Stocks in the US sink as Fed waits

US stock futures declined slightly as investors waited for the Fed’s new print. This is the most important measure of inflation and will give you more information about interest rate.

S&P 500 futures were down 0.32%, while Dow Jones Industrial Average futures were down 55 points, or 0.22%. Contracts on tech-heavy Nasdaq Composite fell 0.62%.

The Fed’s price index for personal consumption expenditures is the only one everyone is watching.

A consensus Bloomberg estimate predicts that the PCE index will have increased 0.53% over January’s previous month. Only 0.14% of PCE inflation grew month-on–month in December. PCE inflation is projected to increase year-over-year from the reported annual rate at the end 2022. There has been no improvement.

Core PCE is set for a 0.43% increase in the previous month – slightly higher than December’s 0.34% – and slightly slower growth of 4.34% on the year from 4.43%—in the last month of 2022.

These numbers will confirm recent indicators that inflation isn’t falling as fast and as heavily as investors hoped. Prices have stabilised.

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