The S&P 500 closed out a brutal third quarter on a low note this week, hitting new 52-week lows.
On Friday, the Bureau of Economic Analysis reported the personal consumption expenditures (PCE) price index gained 6.2% year-over-year in the month of August, down from a 6.3% PCE inflation in July. Core PCE, which excludes volatile food and energy prices and is the preferred inflation measure for the Federal Reserve, was up 4.9% in August, exceeding economist estimates of a 4.6% rise.
