US indexes ended the day lower, despite market excitement over the latest PCE data.
The stock market closed 2024's first half strongly, with the S&P 500 up nearly 15%.
"The soft inflation data will build the case that the Fed can start cutting rates in the coming months," LPL Financial chief economist Jeffrey Roach said.
Currently, futures markets are pricing in the odds of twoThe soft inflation reading was not enough to keep the indexes in the green through Friday, but the stock market still strongly closed out the first half of 2024.
Could these be harbingers of weakness to come, or will they take over as market leaders in the second half?"
Persons:
—, Jeffrey Roach, that's, David Morrison, Dow, Russell
Organizations:
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