CORRECTION: USA Core CPI (YoY) For May 3.4% Vs 3.5% Est.; 3.6% Prior
Portfolio Pulse from Benzinga Newsdesk
The USA Core CPI (YoY) for May came in at 3.4%, slightly below the estimated 3.5% and down from the previous 3.6%.
June 12, 2024 | 12:49 pm
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The USA Core CPI (YoY) for May came in at 3.4%, slightly below the estimated 3.5% and down from the previous 3.6%. This could indicate a slowing inflation rate, which may positively impact the SPY ETF as it could reduce concerns about aggressive interest rate hikes.
A lower-than-expected CPI suggests that inflation is not accelerating as much as anticipated, which could reduce the likelihood of aggressive interest rate hikes by the Federal Reserve. This is generally positive for equities, including the SPY ETF.
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