The Federal Reserve's favored PCE inflation gauge is due out early on Friday. Consensus forecasts for a 0.3% monthly increase in the core measure and annual...
Wall Street looks set to end the shortened week slightly punch drunk, with Friday's May inflation update set to be a decider after a slew of conflicting economic data signals and the latest election twist.
Without signalling any urgency in cutting rates, New York Fed boss John Williams said rates would be cut "at some point". Dallas Fed chief Lorie Logan reiterated that it was still "too soon" to be thinking about easing. There was no obvious market reaction to the potentially seismic political news overnight that Donald Trump became the first U.S. president to be convicted of a crime. A New York jury found him guilty of falsifying documents to cover up a payment to silence a porn star ahead of the 2016 election.
Euro zone bond markets now look ahead to sovereign credit rating reviews for Italy, France, Greece and Ireland later on Friday. In other news, the Wall Street Journal reported that Bill Ackman is considering selling a stake his Pershing Square firm that would value the company at about $10.5 billion.
Exhausted Hamilton residents dealing with 'nightmare' noise next door say pleas to city, police go unheard
Mike Dolan Federal Reserve Donald Trump PCE Inflation Gauge Consensus Forecasts Presidential Election Race John Williams
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