Analyst: PCE data has little impact on bets for Fed rate cuts, stock index futures rise slightly

ChainCatcher message, analysts have indicated that after the latest economic data strengthened expectations for multiple rate cuts by the Federal Reserve this year, U.S. stock index futures rose slightly. U.S. Treasury yields remained almost unchanged, and the market is poised for its longest consecutive rise since 2021. The PCE index, favored by the Federal Reserve as a measure of potential U.S. inflation, rose moderately in July, while household spending remained robust.

Federal Reserve Chairman Powell stated last week that the time has come for the Federal Reserve to lower its key policy interest rate. He affirmed expectations that Fed officials will begin to reduce borrowing costs next month and clearly indicated his intention to prevent further cooling of the labor market. (Jin Shi)