U.S. stocks climbed with S&P, Dow, and Nasdaq all up, as core PCE data came in below expectations.
Sectors & Industries
September 30, 2024
U.S. stocks rose this week, with the S&P 500 gaining .46%, the Dow Jones up .60%, and the Nasdaq increasing by 1.1%. Investors digested the PCE report, which showed a 0.1% rise in both the PCE and core PCE indices, with core PCE below expectations. Personal spending slowed, and income growth unexpectedly eased.
The likelihood of a second 50bps Fed rate cut in November increased slightly to 53%. China stocks rocketed on the news that the government is issuing around $300 billion in stimulus.
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