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CNBC Daily Open: Shiny September days for stocks

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Shanghai,Economic Events,Nikkei 225 Index

Stocks’ defiant showing this September was helped by positive sentiment generated by the U.S. Federal Reserve’s jumbo rate cut and upbeat economic data.

This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Like what you see? You can subscribe. Year over year, prices rose 2.2%, lower than the Dow Jones survey consensus of 2.3% and July's 2.5%. Core PCE, which excludes food and energy prices, increased 0.1% in August and 2.7% from a year ago. Economists were expecting 0.2% and 2.7% respectively.

The three major U.S. indexes have thus far posted three straight positive weeks. With just one trading day left in the month, it's almost certain they'll finish September in the green. The PCE price index, which tracks the amount consumers spend on goods and services, came in cooler than expected. "All quiet on the inflation front," said Chris Larkin, managing director of trading and investing at E-Trade from Morgan Stanley. "Inflation continues to keep its head down, and while economic growth may be slowing, there's no indication it's falling off a cliff."

 

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