PCE Price index (MoM) (May) 0.1% vs 0.5%
Portfolio Pulse from Bill Haddad
The PCE Price Index for May has come in at 0.1% YoY, significantly lower than the expected 0.5%.
June 30, 2023 | 12:30 pm
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POSITIVE IMPACT
The lower than expected PCE Price Index could impact SPY as it indicates lower inflation, potentially leading to a more dovish stance from the Fed.
The PCE Price Index is a measure of inflation. Lower than expected inflation could lead the Federal Reserve to maintain or even lower interest rates, which is generally positive for stocks. As SPY is a broad market ETF, it could benefit from this scenario.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 75