Markets Await April PCE Inflation Data Release at 8:30 am ET, Forecast at 2.7%

The financial markets are closely watching the upcoming release of the US Personal Consumption Expenditures (PCE) inflation data for April, scheduled for today at 8:30 am ET (12:30 UTC). The median forecast for the year-over-year PCE inflation rate is 2.7%, matching the previous reading, with expectations of a 0.3% month-over-month increase. Market participants are anticipating the report, with expectations that a higher-than-expected reading could lead to market selling, while a lower-than-expected reading might trigger a market rally. The PCE inflation data is considered a key indicator by the Federal Reserve, and its results could significantly influence market movements, particularly in stocks and bonds. Investors are also speculating on the potential impact on various indices, including $SPX, $SPY, $QQQ, and $IWM, as well as the broader market sentiment heading into June.