Beat the street: Market mood gets a lift from PCE; Boeing; Tesla
Traders embrace evidence of progress on US inflation in the latest PCE reading. The Federal Aviation Administration says Boeing will not immediately allow Boeing to boost 737 MAX production as it addresses ongoing safety issues.
Tesla recalls vehicles due to its seat-belt warning system.
(AI Video Summary)
Core PCE data
In today's edition of "Beat the street," Angeline Ong discusses several financial updates and market reactions. Core Personal Consumption Expenditures (PCE) data for April showed a cooler-than-expected increase, aligning with annual expectations and affecting the Federal Reserve's potential for a discussed rate cut by year-end, influencing financial markets mildly.
Corporate news
Dell faces a downturn due to rising costs. Gap's forecast improvement lifted its shares. Costco surpassed earnings expectations. Concerns over Boeing and Tesla regarding production and recall issues, respectively, were also mentioned alongside crude oil market movements before an OPEC+ meeting.
The episode ends with technical analysis on the stock market's recent trends and potential future movements.
This information has been prepared by IG, a trading name of IG Markets Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients.
Seize a share opportunity today
Go long or short on thousands of international stocks.
- Increase your market exposure with leverage
- Get spreads from just 0.1% on major global shares
- Trade CFDs straight into order books with direct market access
Live prices on most popular markets
- Forex
- Shares
- Indices
