Weekly Market Update: September 30, 2024
09/30/24
PCE Data Comforts Fed, Chinese Equities Soar
A benign PCE inflation reading reassured Fed officials following their recent 50-basis point cut. The 0.1% month-over-month increase in Core PCE Inflation was another positive data point in the battle to stamp out high inflation. Elsewhere in the world, Chinese equities soared after the country’s central bank unveiled a multi-pronged stimulus package aimed at boosting the economy, which has been plagued by lackluster growth and deflation. The MSCI China Index had its best week in more than 15 years on the back of the announcement.
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