In sum, nothing here looks likely to ring any alarm bells on Wall Street, though the core number remains above where the Fed probably wants to see it. Core PCE was 4.6% in May, down from 4.7% in April but well above the Fed’s 2% goal. On an annual basis, this means PCE slipped to 3.8% from April’s 4.3%. Core PCE, which subtracts volatile food and energy, also matched consensus views at 0.3%, down from 0.4% in April. Personal Consumption Expenditures (PCE) prices, the inflation metric most closely watched by the Federal Reserve, rose a tepid 0.1% in May, in line with expectations and down from 0.4% in April. inflation data showed signs of progress, fueling gains on Wall Street as the market winds down the first half. (Friday market open) The latest batch of U.S. Nike shares fall as investors digest earnings miss, while Tesla on the clock for Q2 deliveries Major indexes on track for a strong Q2 finish, but rising Treasury yields could generate caution
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