Stock Market Today: What to Watch Ahead of PCE Inflation Report

Investors will receive more information about inflation on Friday, as the personal-consumption expenditures price index for April is set to be released. This index is the Federal Reserve’s preferred measure of inflation. Core PCE, which excludes volatile food and energy categories, is expected to have increased by 2.7% from a year ago, slightly lower than the 2.8% gain seen in March. The report will also include data on consumer income and spending. In recent trading, stock futures declined, with tech stocks leading major indexes down. Benchmark Treasury yields were relatively unchanged, settling at 4.55% on Thursday. The Shanghai Composite index saw a slight decrease after unexpected retrenchment in China’s manufacturing sector in May.