The Dow snapped a 13-day win streak on Thursday.
Investors will watch for June data for the personal consumer expenditures price index, a gauge of inflation that's closely followed by the Federal Reserve. Economists polled by Dow Jones expect core PCE gained 0.2% from the prior month and climbed 4.2% when compared with the same month a year prior.earlier this week in a widely expected move. Wall Street is now trying to guess how, or if, they will move them going forward.
"We don't have to love the Fed, but we know how they think," said Jay Hatfield, CEO at Infrastructure Capital Advisors. "Given that most people think the Fed won't increase again, if this PCE number comes in hot, then that's going to shake that confidence. We think it's going to print cool, but you never know until you know."
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