Summary
U.S. equities were up following the lower-than-expected inflation data. The U.S. PCE declined sequentially in May to 0.1% and at an annualized rate of 3.8%. The Core PCE price index was up 0.3% for the month and 4.6% year-over-year in May, dipping from 4.7% in April. The decline in inflation is ongoing, but has slowed. Spending rose 0.1% for the month, below the 0.2% estimate and down from the 0.6% increase in April. Personal income rose 0.4%, ahead of the 0.3% estimate. The Dow rose 0.6%, the S&P 500 1.0%, and the Nasdaq 1.4%. Crude oil rose to just above $70 per barrel while gold traded near $1923 per ounce.
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Source: finance.yahoo.com