The S&P 500 Index ($SPX) (SPY) today is up +0.05%, the Dow Jones Industrials Index ($DOWI) (DIA) is up +0.29%, and the Nasdaq 100 Index ($IUXX) (QQQ) is down -0.15%. March E-mini S&P futures (ESH25) are up +0.05%, and March E-mini Nasdaq futures (NQH25) are down -0.09%.
Stock indexes today are mixed, with the Nasdaq 100 posting a 3-1/4 month low. Stocks found support today after the US Jan core PCE index, the Fed’s preferred inflation gauge, matched expectations. The Jan core PCE index rose +2.6% y/y, matching the smallest annual pace of increase in nearly 4 years, bolstering speculation the Fed will be able to cut interest rates this year. Other US economic news today was mixed as Jan personal spending unexpectedly declined, while Jan personal income rose more than expected.
