Stock Market Update
30-Sep-26 09:11 ET
Futures point to higher open after better-than-feared inflation data
Market is Closed
[BRIEFING.COM] S&P futures vs fair value: +27.00. Nasdaq futures vs fair value: +118.00.
Equity futures continue to point to a modestly higher open after this morning's inflation data came in better than feared.
The August Personal Income and Spending report showed income up 0.2% month-over-month (Briefing.com consensus: 0.4%), spending up 0.9% (Briefing.com consensus: 0.7%), the PCE Price Index up 0.3% (Briefing.com consensus: 0.4%), and the core PCE Price Index up 0.2% (Briefing.com consensus: 0.3%).
On a year-over-year basis, the PCE Price Index was up 3.4%, unchanged from July, which was revised down from 3.7%; and the core PCE Price Index was up 3.0%, also unchanged from July, which was revised down from 3.3%.
The key takeaway, though, is that PCE inflation, no matter how you slice it, is still far above the Fed's 2.0% inflation target, so the idea that the Fed may raise rates again before the end of the year is bound to remain a lively one.
