Holding Pattern Into Nvidia

The week’s big data point, PCE dropped Wednesday before the open, coming in slightly hotter-than-expected: Headline 0.2% MoM & 3.7% YoY (consensus 0.1%/3.6% YoY) Core PCE (the Fed’s fave) printed in-line at 0.2%/3.3% YoY as expected. Index futures didn’t react much, but Treasury yields moved higher… nothing dramatic. The U.S. Dollar Index knee-jerked hawkishly higher….