Feds preferred gauge of inflation cools
Marketplace All-in-One
Marketplace
4.5 • 1.4K Ratings
🗓️ 31 May 2024
⏱️ 1 minutes
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Summary
Markets end mixed; Core PCE inflation cools; Gap shares pop; Anchor Brewing finds buyer.
Transcript
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| 0:00.0 | This is the Marketplace Minute, I'm Megan McCarty Carino. |
| 0:05.0 | Markets were in a weird mood Friday. |
| 0:07.0 | The Dow jumped to more than 1.5%, the S&P gained 8 10% percent, |
| 0:11.7 | and the NASDAQ ended basically flat. |
| 0:14.3 | Today's inflation data gave investors cause for optimism that a rate cut will be in the |
| 0:18.8 | cards this year. |
| 0:20.2 | The Core Personal Consumption Expenditure Index cooled last month after running hot through the beginning of the year. |
| 0:26.0 | Corps PCPCE is the Fed's preferred gauge of inflation as it strips out volatile food and energy prices. |
| 0:32.0 | shares of gap surged more than 20%, |
| 0:35.0 | after the retailer known for its Chino-style Basics |
| 0:38.0 | reported a turnaround in sales. |
| 0:40.0 | The company has hired a new CEO and creative director and seen sales rise across the board, including an old Navy and Banana Republic. |
| 0:49.0 | And the country's oldest craft beer is making a comeback, anchor brewing in San Francisco, which shut down last summer, |
| 0:56.0 | will reopen under a new buyer, the billionaire founder of Chobani Yogurt. |
| 1:00.0 | I'm Megan McCarty Carino with the Marketplace Minute. |
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