U.S. stocks open mostly lower as investors digest PCE inflation data

U.S. stocks opened mostly lower Friday as investors digested data from the Federal Reserve's preferred gauge showing signs of inflation slowing while personal spending last month fell. The Dow Jones Industrial Average DJIA, +0.24% opened slightly higher before dipping soon after the bell, while the S&P 500 SPX, +0.14% slipped 0.2% and the Nasdaq Composite COMP, +0.32% shed 0.

3%, according to FactSet data, at last check. The Bureau of Economic Analysis released data Friday showing that the personal-consumption-expenditures index rose 0.1% in December for a rate of inflation of 5% over the past year. Inflation on a year-over-year basis slowed from 5.5% in November. So-called core PCE, which excludes food and energy prices, increased 4.4% in the year through December, compared with a 4.7% pace in the 12 months through November.

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Jim Cramer gives his take on the labor market, wage inflation and the Federal ReserveCramer gave his take on the state of the labor market on Thursday. I always listen to Jim Cramer and the do the exact opposite of what he says!!! And to think, CNBC has a investors club based on this nimrod. He's been off a lot lately. Lost me a ton of $$ on his recommendations.
Source: CNBC - 🏆 12. / 72 Read more »