U.S. stock markets ended higher on Friday, following largely in-line inflation figures, although indices recorded losses over the week.
PCE Inflation Sends Positive Signal
Brad Bernstein, Managing Director at UBS Private Wealth Management, said markets reacted positively to the Personal Consumption Expenditures (PCE) data released earlier in the day. The PCE is the Federal Reserve’s preferred measure of inflation.
Bernstein added that the main short-term risk for markets would arise if investors start to believe the Fed cannot cut rates due to improving economic data and rising inflation. “As long as inflation remains steady and employment data is mixed, rate cuts can continue, which bodes well for markets into the new year,” he noted.
Market Performance
S&P 500 rose 38.98 points (+0.59%) to 6,643.70.
Nasdaq Composite gained 99.37 points (+0.44%) to 22,482.07.
Dow Jones Industrial Average added 299.97 points (+0.65%) to 46,247.29.
Economic Context
The PCE Price Index increased by 0.3% in August, in line with economists’ expectations. Annual inflation rose to 2.7% from 2.6% in July. Strong consumer spending in August highlighted the resilience of the U.S. economy.
Trade and Tariffs
Meanwhile, shares of U.S. truck manufacturer Paccar rose, a day after President Donald Trump announced new import tariffs covering heavy-duty trucks, branded and patented pharmaceuticals, kitchen and bathroom cabinets, and upholstered furniture.
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China imposed sanctions on Japanese lawmaker Keiji Furuya on Monday, who is a close aide of Japanese Prime Minister Sanae Takaichi, due to his "collusion with Taiwan independence" forces, in its latest move in a diplomatic row over Taiwan.
Europe's aviation sector hit - and may well have surpassed - a 2% mandate for green jet fuel use in 2025, a regulatory official and a source told Reuters, bolstering airlines' green credentials as the region seeks to cut reliance on hydrocarbons.
The U.N. peacekeeping mission in Lebanon (UNIFIL) said a peacekeeper was killed when a projectile exploded at one of its positions near the southern Lebanese village of Adchit al-Qusayr on Sunday.
Ukrainian President Volodymyr Zelenskyy said he talked about a possible security partnership on Sunday with Jordan's King Abdullah over defending against drone attacks amid rising tensions over the Iran conflict.
Cuba and the United States have been at odds for more than six decades, with tensions rooted in the 1959 revolution that transformed the island’s political and economic system. Renewed focus on relations comes as Donald Trump’s rhetoric intensifies and conditions on the island worsen.
The four astronauts selected for NASA’s Artemis II mission have arrived in Florida, entering the final phase of preparations for the first crewed journey towards the Moon in more than five decades
Iranian Military Spokesman Lieutenant Colonel Ibrahim Zulfiqari has warned that American soldiers will become 'food for sharks' if U.S. President Donald Trump launches ground attacks against Iran. The threat comes after the U.S. military said it was deploying thousands of Marines to the region.
China is moving ahead with plans to establish a nationwide long-term care insurance system, aimed at supporting its rapidly ageing population and easing the financial burden on families caring for elderly relatives.
NASA is aiming to launch its Artemis 2 mission on Wednesday (1 April), sending astronauts on a 10-day journey around the Moon, officials confirmed. According to the Space Administration, the launch window is due to open at 23:24 GMT, with additional opportunities to 6 April if delays occur.
Petrol price spikes triggered by the war in Iran are boosting used electric vehicle sales across Europe, online car platforms told Reuters, in an early sign that pain at the pump is pushing consumers away from combustion engines.
Meta Platforms is increasing compensation for top executives, including its first-ever offer of stock options, as it tries to fend off competition in the artificial intelligence (AI) race and incentivize leaders to stay with the company for several years.
The French government’s bid to suspend the marketplace of Chinese online retailer Shein in the country has been overruled by a Paris Court of Appeal.
The prevailing security situation in the region has done little to deter entrepreneurs from the Commonwealth of Independent States (CIS) who continue to view Dubai as a premier and safe location for business.
China has raised the retail prices of petrol and diesel after global oil prices climbed sharply. The country’s top economic planning body, the National Development and Reform Commission (NDRC), announced the move after reviewing international oil market trends.
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