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Stock Market News Today: Indexes fall as March PCE climbs 0.3%

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US stocks fall as investors weigh fresh inflation data and more tech earnings

The personal consumption expenditures price index, the Federal Reserve's preferred inflation gauge, rose 0.1% in March from the prior month. Yearly growth cooled to 4.2% from 5.1% in February.

Excluding food and energy, the index climbed 0.3% for the month, in line with forecasts, and 4.6% for the year. "The inflation dynamics along with improved financial stability after the recent banking crisis will bring the Fed to another rate hike next week," Jeffrey Roach, chief economist for LPL Financial, wrote in a Friday note."However, the slowdown in business activity and signs of a softer job market will likely force the Fed to consider ending its current rate hiking campaign later this year.

, while Intel rose after reporting strong quarterly figures. FactSet data shows that of 261 S&P 500 companies that have published earnings, roughly 80% have reported positive surprises.

 

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