Why "pce" Is Trending Today?

U.S. Personal Consumption Expenditures (PCE) inflation data, released on July 31, came in hotter than expected, leading to a dip in crypto prices and a drop in equities. The core PCE, the Federal Reserve's preferred inflation gauge, beat estimates, causing market uncertainty.

U.S. inflation, as measured by the Personal Consumption Expenditures (PCE) price index, rose 0.3% in June from May and 2.6% year-over-year, marking the biggest increase in four months. The core PCE, which excludes food and energy, grew 2.79% annually, its highest rate since 2008. The report comes amid tariff hikes and ahead of key earnings from tech giants like Meta and Microsoft, which boosted market sentiment.