Stocks opened higher Friday thanks to a just-fine inflation report and a round of not-so-bad corporate earnings. But markets turned after the White House confirmed that it will levy tariffs against Mexico, Canada and China starting tomorrow, February 1.
This morning's release of the December Personal Consumption Expenditures Price Index (PCE) was generally well-received by investors. According to the Bureau of Labor Statistics, headline PCE was up 0.3% month over month and 2.6% year over year. This was faster than the respective increases of 0.2% and 2.4% seen in November.
