The US Federal Reserve (Fed) pays attention to inflation indicators. In March, the personal consumption expenditure (PCE) index increased by 4.2% year-on-year, which was lower than market expectations, but the core PCE increased by 4.6% year-on-year, which was higher than market expectations. The interest rate came to 3.44%. On Friday (28th), the three major U.S. stock indexes were mixed. The Dow Jones Industrial Average rose slightly, and the Nasdaq Index fell 0.2%.
As of 21:50 Taipei time, the Dow Jones Industrial Average rose 23.74 points (or 0.07%) to 33849.9; the Nasdaq fell 30.01 points (or 0.25%) to 12112.23; the S&P 500 rose 1 point (or 0.02%), temporarily reported at 4136.35 points; the Philadelphia Semiconductor Index rose 15.1 points (or 0.51%), temporarily reported at 2956.68 points.
Of the five major technology giants, only Microsoft opened higher, Amazon fell more than 3%, and Google fell about 1%. In terms of semiconductor stocks, Micron rose more than 1.8%. Intel announced its financial report for the last quarter. Although it lost 2.76 billion US dollars and set a record for the largest loss in a single quarter, it is optimistic about the recovery in the second half of the year. Benefiting from the financial report, the stock price rose 6.9%. For the round duo, TSMC’s ADR rose 0.5%, and UMC’s ADR rose 0.4%.
The United States released data on the 28th. In March, PCE increased by 4.2%, which was lower than the revised previous value of 5.1% and market expectations of 4.1%. The core PCE increased by 4.6% year-on-year, which was higher than market expectations of 4.5%, but lower than the revised 4.7% of the previous value, with a monthly increase of 0.3%, in line with market expectations.
(Cai Zonglun, China Times News Network)
further reading
U.S. core PCE rose 4.6% in March, higher than market expectations
Bank of Japan maintains ultra-loose monetary policy, Nikkei hits a new high in August
Euro zone first-quarter GDP growth of 0.1% is weaker than expected
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