US stocks opened mixed on Friday, as the Federal Reserve's preferred inflation gauge showed more cooling.
The personal consumption expenditures index was up 5% year over year in December. The core PCE, which excludes volatile food and energy prices, increased by 4.4%, down from November's annual pace of 4.7% and in line with forecasts. Households also showed signs of cutting back spending last month, and investors are hopeful that the dimming economic picture means the central bank can be more inclined to slow rate hikes further at the next policy meeting on January 31 and February 1.
Canada Canada Latest News, Canada Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: FXStreetNews - 🏆 14. / 72 Read more »
Elon Musk says he's worried the Fed will 'crush' the stock marketElon Musk says he's worried about the Fed 'crushing' the value of the entire stock market Right right, the entire stock market, not his company specifically. Not just the FED … persons without integrity have been abusing the markeT. Computer trading , automated , is killing the middle class. look at this，what do you think?
Source: BusinessInsider - 🏆 729. / 51 Read more »