A.M. Update Fed’s Favored Inflation Gauge A Little Hot

S&P futures are up +0.75% and NASDAQ +1% supported by pre-open gains in mega cap and semiconductor shares. US JUNE CORE PCE PRICE INDEX RISES 2.6% Y/Y; EST. +2.5% US JUNE PCE PRICE INDEX RISES 2.5% Y/Y; EST. +2.5% The U.S. Dollar Index is flat. WTI Crude oil futures are down -0.6% to $77.80/bbl. The…