Investors are digesting the June personal consumption expenditure (PCE) index this morning. The Fed’s preferred inflation measure comes amid a tough week for U.S. stocks (^DJI, ^GSPC, ^IXIC), with the Nasdaq having its worst trading day in two years.
Major stocks are rising this morning, including many of the tech stocks in the Magnificent Seven: Amazon (AMZN), Apple (AAPL), Alphabet (GOOG, GOOGL), NVIDIA (NVDA), Metaplatform (META), Microsoft (MSFT), Tesla (TSLA). 3M (MMM) stock prices are soaring after the company beat second-quarter profit expectations and raised its full-year outlook. Pharmaceutical giant Bristol-Myers Squibb (BMY) also posted higher-than-expected sales and a profit, and raised its full-year outlook.
Yahoo Finance’s trending tickers include DexCom (DXCM), Lululemon (LULU), and Deckers Outdoor (DECK).
Today’s main guests are:
9:05 AM: Michael Gapen, Director of US Economics, BofA Securities
9:30am: Adam Hetz, Global Head of Multi-Asset, Janus Henderson Investors
10:15 AM: David Miller, Co-Founder and CIO, Catalyst Funds
