5 things to know before the stock market opens Friday
What inflation measure is the Federal Reserve monitoring?
The Federal Reserve monitors the personal consumption expenditures (PCE) price index as a key inflation measure. This index tracks changes in the prices of goods and services consumed by households, providing a broad view of inflation trends. The Fed particularly focuses on the core PCE index, which excludes volatile food and energy prices for a more stable assessment of underlying inflation.
What trend is observed in home pricing since the Covid-19 pandemic?
Since the Covid-19 pandemic, home prices have been on the rise, with typical home values increasing by 36% from March 2020 to March 2023. This growth was most rapid in rural counties, smaller metro areas, and the lower-density suburbs of large metro areas, representing a stark reversal from most of the past decade when home prices had risen most rapidly in urban and higher-density areas2. This trend has significant implications for affordability, especially in previously more affordable places.
How did the S&P 500 perform on Thursday?
The S&P 500 closed little changed on Thursday, ending the day just 0.09% higher, as investors waited for fresh inflation data. Key semiconductor stocks fell, with Micron shares dropping more than 7% and Nvidia dipping 1.9%.