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4h ago

Wall Street Gains After In-Line PCE as New Tariffs Add Uncertainty

The inflation gauge matched forecasts, supporting the outlook for rate cuts.

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La ambigüedad sobre la trayectoria futura de la Reserva Federal consolidó la incertidumbre en Wall Street. 
Al toque de campana, el Dow Jones de Industriales subió 0,65%, el S&P avanzó 0,59% y el Nasdaq progresó 0,44%. Photographer: Michael Nagle/Bloomberg

Overview

  • The Dow Jones rose about 0.65%, the S&P 500 gained roughly 0.59%, and the Nasdaq added 0.44%, snapping a three-session decline.
  • August PCE increased 0.3% on the month and 2.7% year over year, with core at 2.9%, reinforcing expectations for continued Federal Reserve rate reductions.
  • Boeing led blue chips higher and energy stocks outperformed as oil prices climbed around 2% on concerns over Russia–Ukraine supply risks, while several large tech names lagged.
  • President Donald Trump announced new import levies set to begin around Oct. 1, including 100% tariffs on certain branded pharmaceuticals not made in U.S. plants, 50% on kitchen cabinets and vanities, 30% on upholstered furniture, and 25% on heavy trucks.
  • Mexico’s IPyC extended gains toward a record high, helped by a local August trade surplus and supportive global risk sentiment.