Core PCE Price Index (YoY) (Jan) +2.8% vs + 2.8% Est.
Portfolio Pulse from Benzinga Newsdesk
The Core PCE Price Index for January showed a year-over-year increase of 2.8%, aligning with the market expectations of a 2.8% rise.
February 29, 2024 | 1:32 pm
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POSITIVE IMPACT
The SPY ETF, which tracks the S&P 500, may see neutral to slightly positive impact as the Core PCE Price Index aligns with expectations, suggesting stable inflation and potentially steady monetary policy ahead.
The Core PCE Price Index is a key inflation measure watched by the Federal Reserve. A reading in line with expectations suggests that inflation is under control, which can lead to a stable monetary policy environment. This stability is generally positive for the stock market, as it reduces uncertainty. Therefore, SPY, which reflects the broader market, may benefit from this news in the short term.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 75