Flat opening of Wall Street, after the positive PCE data on inflation.
The S&P 500 marks a (-0.7%), the Dow Jones up 0.11%, while the Nasdaq Composite drops 0.2%.
Inflation in the United States remains at high levels, but in July the ‘core’ figure, the most followed, fell slightly compared to June.
The measure preferred by the Federal Reserve to calculate it, the PCE (personal consumption expenditures price index), fell by 0.1% compared to the previous month and grew by 6.3% compared to a year earlier, against expectations for a + 1% and + 6.8%, after the + 6.8% of the previous month.
The “core” component of the data, net of volatile elements, grew by 0.1% compared to the previous month, against estimates of + 0.2%, and by 4.6% compared to a year earlier, against expectations for a + 4.7%, after + 4.8% in June.