From the Desk - Economic Commentary
Brandon Casey, Member Strategies - 8/29/2025
U.S. stocks opened lower and have continued to fall as investors digest the latest inflation reading. Stocks are coming off a winning session on Thursday, with the S&P 500 closing above 5,000 for the first time ever. Despite the losses this morning, all three major averages are still on track to post monthly gains, the fourth straight winning month for the S&P 500.
Looking at economic data today, the PCE Price Index rose by 0.2% in July, matching expectations, and was up 2.6% year-over-year, also matching expectations, and unchanged from the previous month. Core PCE rose 0.3% for the month and 2.9% over the last year, both matching expectations. The core annual reading was up from 2.8% last month.
Elsewhere, consumer spending rose 0.5% in July, in line with forecasts. Personal incomes were up 0.4%, also matching expectations. The personal savings rate was 4.4%, down from 4.5% the previous month.
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