4 hours ago
Fed’s preferred inflation gauge for March to be released Friday
The Personal Consumption Expenditures Price Index will be due Friday morning, giving the Federal Reserve a detailed look at the latest inflation measures.
For March, economists surveyed by Dow Jones forecast overall PCE growth of 0.3% from the previous month and 2.6% from 12 months earlier. They expect underlying prices, which exclude food and energy costs, to rise 0.3% on a monthly basis and 2.7% year-on-year.
The first-quarter gross domestic product report released Thursday found that PCE for the period rose 3.4%, well above the 1.8% increase in the fourth quarter. The result prompted a sell-off in stocks as investors worried about signs of stagflation – a scenario in which growth in the economy slows but inflation rises.
–Darla Mercado
4 hours ago
After Hours Movers
Discover the companies that move after the bell:
Snap – Shares soared more than 27% after hours after the social media company reported first-quarter results that beat analysts’ estimates.
Intel – The technology stock slipped 8% in extended trading after the company missed expectations for first-quarter sales and gave weak guidance for the current quarter.
Dexcom – The maker of glucose monitoring systems fell 8%, even as the company posted top and bottom results.
Gilead Sciences – The biotech stock jumped nearly 3% after a better-than-expected quarterly report. Gilead reported a loss of $1.32 per share, narrower than the $1.49 per share loss expected by analysts surveyed by LSEG.
-Yun Li
News Source : www.cnbc.com
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