As a general recap, indexes were advancing Friday morning. The S&P 500 climbed fell back 0.05%, the $Dow Jones Industrial Average (.DJI.US)$ fell 0.19% and the $Nasdaq Composite Index (.IXIC.US)$ fell 0.07%. 6100 equities advanced overall compared to just 5200 falling Friday morning.
In macroeconomics, PCE inflation data came in right as expected Friday morning. Core prices advanced 2.6% year over year, and just 0.1% in May, while regular Personal Consumption Index prices remained unchanged.
Thursday's GDP numbers for the first quarter are finalized at a growth rate of 1.4%, falling from Q4 2023's 3.4% growing economy. Initial jobless claims came in at 233k, lower than expected.
Fed speakers this week gave conflicting guidance on rate cuts. Monday saw Federal Reserve Bank of Chicago President Austan Goolsbee give a dovish stance for rate cuts, while San Francisco Federal Reserve President Mary Daly also said she sees keeping rates higher.
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