U.S. stocks climbed on Friday after Federal Reserve Chair Jerome Powell hinted that interest rate cuts are on the horizon.Friday’s performance also capped off a winning week for all three major indexes. The Dow advanced nearly 1.3%, the Nasdaq gained 1.4%, and the S&P 500 climbed 1.45%.
Economists at JPMorgan, anticipate that the core PCE figure will show a 0.12% month-over-month increase. This projection, based on existing data from the CPI, PPI, and import price index, is expected to keep the year-over-year rate steady at 2.6% for the third consecutive month. However, on a three-month annualized basis, prices would be up only 1.6%.
Investors will also be closely watching for any updates from management on potential delays in the launch of the next-generation Blackwell chip. According to supply chain checks, performance issues have led to a chip respin involving the Blackwell tile, resulting in a one-quarter delay.
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