Stock Futures Hold Slight Gains After PCE Data
Stock futures stayed slightly higher after the Fed’s preferred gauge showed cooling inflation.
Dow Jones Industrial Average futures were up slightly. S&P 500 futures were up 0.4%. Nasdaq 100 futures were up 0.5%. Bond yields were turning lower.
The headline personal consumption expenditures price index was flat on a monthly basis in May, the Bureau of Economic Analysis said. That matched economists’ expectations. The year-over-year increase was down to 2.6% from 2.7% in April.