CORRECTION: USA Core PCE Prices For Q2 3.70% Vs 3.80% Est.; 4.90% Prior
Portfolio Pulse from Happy Mohamed
The USA Core PCE Prices for Q2 came in at 3.70%, lower than the estimated 3.80% and the prior figure of 4.90%.
August 30, 2023 | 12:33 pm
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POSITIVE IMPACT
The lower than expected USA Core PCE Prices for Q2 may have a neutral to positive impact on SPY as it indicates lower inflation, which can be beneficial for stocks.
The Core PCE Price Index is a key indicator of inflation. Lower than expected inflation can be beneficial for stocks as it reduces the pressure on the Federal Reserve to raise interest rates, which can negatively impact stock prices. Therefore, the lower than expected Core PCE Prices for Q2 may have a neutral to positive impact on SPY.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 75