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June PCE, Energy & the Election, and the State of Health Care 7/26/24
Jul 26, 2024
Roger Ferguson, a former Fed Vice Chairman, predicts inflation trends with insights on recent PCE data. Former President Barack Obama discusses his endorsement of Vice President Kamala Harris, sparking debates on her potential impact on energy markets. Helima Croft analyzes how a Harris presidency could affect oil prices amid global changes. Lastly, Marc Miller, CEO of Universal Health Services, shares the company's strong earnings and the evolving landscape of healthcare, reflecting positive growth and labor market improvements.
42:39
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Quick takeaways
- The upcoming PCE report is crucial for understanding inflation trends, potentially impacting investor sentiment and Federal Reserve interest rate decisions.
- Vice President Kamala Harris's potential presidential campaign raises questions about future energy policies and their implications for corporate tax reforms.
Deep dives
Market Trends and Stock Performance
U.S. stock futures indicate a recovery with both the Dow and NASDAQ poised to open significantly higher, following a tumultuous trading week. Despite the overall recovery sentiment, the NASDAQ is on track to record a second consecutive week of losses, reflecting a larger rotation out of tech stocks and into smaller capitalizations. The Russell 2000 stands out, holding onto its positive momentum with nearly 2% gains week-to-date, signaling a possible shift in investor focus. Analysts are closely monitoring key economic indicators, including PCE, personal income, and consumer sentiment, suggesting that forthcoming data could have profound implications for market direction.
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