BREAKING: US500 jumps back above 3,800 pts after PCE reading

1:34 PM 28 October 2022

US data pack for September was released at 1:30 pm BST today. Attention was mostly on PCE inflation data and it surprised to the downside. Core PCE accelerated from 4.9 to 5.1% YoY, less than 5.2% YoY expected while headline gauge stayed unchanged at 6.2% YoY (exp. 6.3% YoY). Personal income data came in slightly below expectations while spending data showed a small beat. Overall, this data pack should not change much in terms of next week's Fed meeting.

Data pack for September:

  • Headline PCE inflation: 6.2% YoY vs 6.3% YoY expected (6.2% YoY previously)

  • Core PCE inflation: 5.1% YoY vs 5.2% YoY expected (4.9% YoY previously)

  • Personal spending: 0.6% MoM vs 0.4% MoM expected (0.4% MoM previously)

  • Personal income: 0.4% MoM vs 0.5% MoM expected (0.4% MoM previously)

When it comes to market reaction, index futures gained with US500 jumping above 3,800 pts while US dollar weakened.

US500 jumped back above after smaller-than-expected core PCE reading. However, reading should not change the course for the next Fed's meeting. Source: xStation5

Share:
Back

Join over 1 600 000 XTB Group Clients from around the world

The financial instruments we offer, especially CFDs, can be highly risky. Fractional Shares (FS) is an acquired from XTB fiduciary right to fractional parts of stocks and ETFs. FS are not a separate financial instrument. The limited corporate rights are associated with FS.
This page was not created for investors residing in Brazil. This brokerage is not authorized by the Comissão de Valores Mobiliários (CVM) or the Brazilian Central Bank (BCB). The content of this page should not be characterized as an investment offer in Brazil or for investors residing in that country.
Losses can exceed deposits