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.
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