A.M. Update PCE Hotter Than Expected, But Cooler Than GDP Data

S&P futures are up +0.7% following earnings based gains in Alphabet (GOOG) and Microsoft (MSFT). Headline and core PCE Deflator data printed hotter than expected (+2.7% vs +2.6% consensus and +2.5% prior & +2.8% vs consensus +2.7%  vs +2.8% prior respectively). The 3-Month annualized core PCE jumped to 4.4%. However, as suspected yesterday in the…