Stock market today: US futures tread water in wait for the Fed-favored PCE inflation print

Published On Sep 27, 2024, 7:22 AM

US stock markets are currently stable as investors await the inflation data from the Personal Consumption Expenditures (PCE) index, which is crucial for the Federal Reserve's interest rate decisions. After a week of gains, there is optimism about the economy, highlighted by a strong GDP report. Analysts expect the PCE inflation print to show a decrease from the previous month, which may support further interest rate cuts by the Fed. Additionally, Chinese markets are rising due to stimulus measures, positively impacting stocks in that region, while Costco's stock has declined following disappointing earnings results.

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Stock Forecasts

AI prediction results, not representative of any investment advice.

SPY View SPY chart on TradingView

Positive

Investors should be cautious ahead of the PCE inflation report as it could significantly impact market sentiment and Federal Reserve policy decisions. A positive outcome on inflation could buoy the markets, while negative news may threaten recent gains.

COST View COST chart on TradingView

Negative

Costco's stock has slipped due to lower than expected earnings and revenue, signaling potential weakness in its business. Investors may want to consider a short position or wait for a more favorable entry point.

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