Stock futures are now rolling back a bit after absorbing the PCE data.

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While month-over-month data appears promising for markets, concerns loom as 6 and 3-month rates surpass estimates, potentially signaling trouble ahead for the Fed amidst inflation worries. With the 3-month annualized core PCE rate climbing to 4.4% from 3.7%, and the 6-month rate holding at 3%, stock futures exhibit a cautious downturn following the release.

Key Points:

  • PCE price index for March beats expectations, rising 0.3% against forecasted 0.3% increase.
  • Annually, PCE inflation reaches 2.7%, surpassing economists’ expectations of 2.6%.
  • 3-month annualized ROC for CORE PCE 4.43%.
  • Excluding volatile components, PCE price index also exceeds forecasts, climbing 0.3% last month.
  • Annual core PCE inflation hits 2.8%, outpacing expected 2.7%.
  • Dow e-minis rise 0.32%, S&P 500 e-minis climb 0.92%, Nasdaq 100 e-minis surge 1.12%.
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