USA Core PCE Price Index (YoY) For June 4.1% Vs 4.2% Est.; 4.6% Prior
Portfolio Pulse from Happy Mohamed
The USA Core PCE Price Index for June came in at 4.1%, lower than the estimated 4.2% and the prior figure of 4.6%.
July 28, 2023 | 12:33 pm
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POSITIVE IMPACT
The lower than expected USA Core PCE Price Index for June may have a neutral to positive impact on SPY as it indicates less inflationary pressure.
The Core PCE Price Index is a key indicator of inflation. A lower than expected figure suggests less inflationary pressure, which can be positive for stocks as it reduces the likelihood of aggressive interest rate hikes. Therefore, SPY, which tracks the S&P 500, may see a neutral to positive impact.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 75