Stock market today: US futures point higher as Fed's favored inflation gauge cools
Published On Sep 27, 2024, 8:46 AM
U.S. stock futures are rising as the latest Personal Consumption Expenditures (PCE) inflation report shows cooling price pressures, which could impact the Federal Reserve's interest rate decisions favorably. The core PCE index rose by only 0.1% month-over-month in August, lower than Wall Street's expectation of 0.2%. This has increased confidence in the economy and suggests the Fed may move towards rate cuts as it aims for a stable economic environment. In related news, China's stimulus measures have also positively impacted markets, particularly with luxury stocks seeing gains due to potential increases in Chinese demand.
Stock Forecasts
SPY
Positive
The market shows signs of positive momentum as inflation cools, leading to potential rate cuts that can be beneficial for growth stocks and the broader market.
BABA
Positive
Companies with significant exposure to consumer spending and luxury goods may benefit from the positive sentiment towards economic recovery and consumer spending increases.
COST
Negative
Despite a weak earnings report impacting Costco's stock negatively, overall market sentiment suggests a rebound may be possible as broader market trends improve.
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