INTRADAY ALERT: July Core PCE inline and good details. U Mich good progress

Today had 2 data releases and both had positive implications for the path of inflation and inflation expectations, which in turn give Fed confidence to focus more on the labor mandate. Meaning, the Fed "put" was strengthened today and good for stocks.

July Core PCE came in at +0.16% MoM and the details good- two biggest upside contributors were housing and financial services (+0.07 and +0.04, of +0.16, respectively)- financial services is due to stock market rising and ...

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