Yahoo Finance Core PCE, presidential debate, Nike: Three Things
US Equities (^GSPC, ^DJI, ^IXIC) starting out in the green on Friday morning as investors digest the latest inflation data in the form of the Personal Consumption Expenditure Price Index (PCE) which was in line with expectations.
President Joe Biden and former President Donald Trump faced off at the first presidential debate. Biden often struggled with his delivery, with Democrats increasingly concerned while Trump rattled off several false claims.
Shares of Nike (NKE) are sinking as the company projected a larger-than-expected sales decline in 2025, with an expected 10% decline in the first quarter.
Yahoo Finance Reporters Josh Schafer, Jared Blikre and Rick Newman join Morning brief to break down the three things investors should keep in mind on June 28
For more expert insight and the latest market action, click here to watch this full episode of Morning Brief.
This post was written by Nicholas Jacobino
Video Transcript
Three things that you need to know this Friday morning.
Yahoo Finance is Josh for Rick Newman and Jared have more stock in the green as investors digest the latest inflation data core PC, The feds preferred inflation gain rose 1/10 per percent in May from the prior month, in line with estimates and slower than the 310 percent increase seen in April.
Core PC was up 2.6% over the prior year in May, in line with estimates.
Now the reading follows other promising May inflation prints.
But Fed officials have remained cautious about inflation's trend, noting it won't be appropriate to cut rates until they have quote greater confidence in inflation's path.
President Joe Biden and former President Donald Trump tussled in the first debate of the 2024 election cycle.
It was the first time they had met since the 2020 campaign.
Biden struggled with his delivery at multiple points during the debate.
His poor performance left voters increasingly concerned around Biden's age, raising questions as to whether Democrats should replace him and Nike stock under pressure this morning, shares tumbling more than 15% after the retailer said it expects revenue to decline more than previously thought in the coming year.
Nike said Thursday it expects revenue to fall mid single digits in 2025 including an expected 10% decline in the first quarter as the company navigates a more challenging consumer.
