A.M. Update – Inflation Cools From 40-Year high

S&P futures are up +0.25% after the PCE report, they were down -0.3% just before. The July PCE Price Index was down -0.1% month-over-month (consensus +0.1%) after a +1.0% increase in June while the core-PCE Price Index was up +0.1% month-over-month (consensus +0.3%) after a +0.6% increase in June. While not as overt as the…