US100 gains after PCE data 📈

Nasdaq 100 (US100) futures are up more than 0.5 percent today, with sentiment boosted by a Wall Street-friendly PCE report. Inflation expectations came in line with market forecasts, while personal consumption and income largely matched economists’ projections.

• Preliminary University of Michigan data for December also supported the bullish tone on Wall Street, showing an improvement in consumer sentiment together with a decline in inflation expectations in both the one-year and five-year horizons. This combination strengthens investors’ belief in a realistic rate cut in December and a “lower-risk” dovish policy path into 2026, which could support risk assets while putting pressure on yields and the US dollar.
• The meeting between China’s Vice Premier He Lifeng and US Treasury Secretary Scott Bessent likely went well, as Chinese officials released an upbeat statement highlighting an intention to broaden cooperation with the United States.
• Adding to the improving risk appetite, shares of CoreWeave (CRWV.US), one of the most heavily sold-off tech stocks this year, have surged more than 23 percent over the last five sessions. The move underscores fading concerns about AI infrastructure spending being overstretched. Analysts at Roth Capital Partners initiated coverage on the GPU leasing company with a buy rating and a 110 USD price target.

Source: xStation5

Tech stocks are rallying broadly, not only across infrastructure and semiconductors but also within software. Salesforce (CRM.US) is gaining following its strong recent earnings. Next week will bring key reports from Adobe, Oracle and Synopsys, and their performance may shape sentiment toward the entire software sector. Source: xStation5

US PCE / UoM data 

US PCE Price Index YoY: 2.8% (Forecast 2.8%, Previous 2.7%)

• US PCE Price Index MoM: 0.3% (Forecast 0.3%, Previous 0.3%)

US Core PCE Price Index YoY: 2.8% (Forecast 2.8%, Previous 2.9%)

• US Core PCE Price Index MoM: 0.2% (Forecast 0.2%, Previous 0.2%)

US Real Personal Consumption MoM: 0.0% (Forecast 0.1%, Previous 0.4%)

• US Consumer Spending MoM: 0.3% (Forecast 0.3%, Previous 0.6%)
• US Personal Income MoM: 0.4% (Forecast 0.3%, Previous 0.4%)

University Michigan Sentiment Prelim (December): 53.3 (Forecast 52, Previous 51.0)

• University Michigan Expectations Prelim: 55 (Forecast 52.7, Previous 51.0)
• University Michigan Condition Prelim: 50.7 (Forecast 52.1, Previous 51.1)

University Michigan 5 Yr Inflation Prelim: 3.2% (Forecast 3.4%, Previous 3.4%)

• University Michigan 1 Yr Inflation Prelim: 4.1% (Forecast 4.5%, Previous 4.5%)

Oracle (ORCL.US, D1)

Oracle shares have climbed nearly 20 percent from their November lows, yet remain roughly 5 percent below the 200-day EMA and about 50 percent below all-time highs. Next week’s earnings (Wednesday) may trigger increased volatility in both directions.

Source: xStation5