Stock index futures edge higher after PCE data has little impact on Fed rate cut bets
U.S. stock index futures edged higher after the latest economic data reinforced expectations that the Federal Reserve will cut interest rates several times this year, an analyst said. U.S. Treasury yields, meanwhile, were little changed, with the market on track for its longest streak of gains since 2021. The PCE gauge, the Fed's favored measure of underlying U.S. inflation, rose moderately in July, and household spending remained solid. Fed Chairman Jerome Powell said last week that the time has come for the Fed to cut its key policy rate. He affirmed expectations that Fed officials will begin lowering borrowing costs next month and made clear that he intends to prevent the labor market from cooling further.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
CoinShares: Crypto ETPs See Largest Weekly Outflow Since February, with $2 Billion Withdrawn
Publicly listed company Forward Industries holds over 6.9 million SOL
CMC20 Index tokens launch on BNB Chain
Aave to launch an app offering high-yield returns for consumers on the Apple App Store