1 minute ago
The Fed’s recommended March inflation measure will be released on Friday.
The Personal Consumption Expenditure Price Index is scheduled to be released Friday morning, giving the Federal Reserve a detailed look at the latest inflation indicators.
According to the Dow Jones Economist Survey for March, overall PCE is expected to increase by 0.3% from the previous month and by 2.6% from 12 months ago. Core prices, excluding food and energy costs, are expected to rise 0.3% from the previous month and 2.7% from the previous year.
The first quarter gross domestic product report released on Thursday revealed that PCE rose 3.4% in the period, significantly outpacing the 1.8% rise in the fourth quarter. The results triggered a sell-off in stocks as investors worried about signs of stagflation, a scenario in which economic growth slows but inflation rises.
–Darla Mercado
19 minutes ago
After-hours moving company
Check out the companies making moves after the bell.
SNAP – Shares soared more than 27% in after-hours trading after the social media company reported first-quarter results that beat analysts’ expectations.
Intel – The tech stock fell 8% in after-hours trading after the company missed first-quarter revenue expectations and gave a weak outlook for the current quarter.
Dexcom – The maker of glucose monitoring systems fell 8% despite posting strong gains in sales and bottom line.
Gilead Sciences – The biotech stock rose nearly 3% after a better-than-expected quarterly report. Gilead posted a loss of $1.32 per share, narrower than the $1.49 per share loss expected by analysts polled by LSEG.
— Yun Lee
