USA PCE price index (MoM) For March 0.3 Vs 0.3% Est.; 0.3% Prior
Portfolio Pulse from Benzinga Newsdesk
The USA PCE price index for March reported a month-on-month increase of 0.3%, aligning with both the estimated and prior figures.
April 26, 2024 | 12:30 pm
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NEUTRAL IMPACT
The SPDR S&P 500 ETF Trust (SPY) may see neutral short-term price movement as the PCE price index data meets expectations, indicating stable inflation.
The PCE price index is a key inflation indicator that can influence market sentiment and monetary policy decisions. Since the reported figure meets expectations, it suggests that inflation is under control, which typically does not prompt immediate action from investors in broad market ETFs like SPY. Therefore, the impact on SPY's price is likely to be neutral in the short term.
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IMPORTANCE 60
RELEVANCE 75