“Economic data released on Thursday did little to change the expectations on interest rate hikes,” Shankar reports. “Personal consumption expenditures (PCE) price index, excluding food and energy, rose 0.2 percent in February, after a 0.3 percent advance in January. Core PCE, the Federal Reserve’s favored gauge of inflation, rose 1.6 percent on an annualized basis, in line with economists’ expectations. Consumer spending, which accounts for more than two-thirds of U.S. economic activity, increased 0.2 percent last month after a similar gain in January.”
Shankar reports, “The tech-heavy Nasdaq’s slim 0.66 percent rise is keeping it on course for its seventh straight quarter of gains.”
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MacDailyNews Take: Onward and upward!