Daily Market Update 6/27/08

Rates were mostly unchanged Friday, having improved by about .125% for the week. The Fed’s preferred measure of inflation, the core PCE (Personal Consumption Expenditures) report increased 0.1% for May, less than forecast. Consumer Spending rose 0.8% for the month, driven mostly by the distribution of economic stimulus checks. Oil prices hit a new record, topping $142 a barrel before settling slightly. Stocks were modestly lower after Thursday’s drubbing. Several key economic reports are due out next week, beginning with the two primary measures of manufacturing activity, the Chicago PMI and the ISM Index scheduled for release Monday and Tuesday, respectively. Thursday’s release of the Employment Report for June will be closely watched by traders and may trigger movement in interest rates.

Leave a Reply

Your email address will not be published.

Back to top