PCE ahead, Nike slips, Biden falters in debate with Trump - what's moving markets
Investing.com -- U.S. stock futures ticked up on Friday, with investors awaiting the unveiling of an inflation reading closely monitored by the Federal Reserve. The personal consumption expenditures price index is expected to show that price growth cooled in May, potentially bolstering the case for the Fed to slash interest rates in 2024. Elsewhere,) shares tumble after the sportswear group warns that sales will decline in the current quarter, while U.S.
"In our view, both readings would be acceptable for the Fed’s cutting narrative to build further," analysts at ING said in a note to clients.Shares in Nike shed more than 12% of their value in extended hours trading after the sports apparel company told investors that revenue is expected to fall by 10% in the current quarter.
The televised debate on CNN was billed as a showdown between two candidates who face major questions over both their age -- Biden is 81 years old and Trump is 78 -- and their temperments. Fears of a wider war between Israel and Lebanon’s Hezbollah kept markets on edge over disruptions in crude supplies, while attacks by Ukraine on major Russian fuel refineries also pointed to potential disruptions in oil supplies from Moscow.
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