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Bloomberg Intelligence
US Core PCE Rises, Estée Lauder Pulls Guidance
Oct 31, 2024
Ira Jersey, Bloomberg's Chief US Interest Rate Strategist, delves into the latest PCE data and its implications for interest rates. Geetha Ranganathan discusses Comcast's potential cable spinoff amid subscriber losses and Peloton's leadership shakeup. Olaolu Aganga offers market outlook amid economic uncertainty, while Deborah Aitken analyzes Estee Lauder's struggles due to weak Chinese demand. Mandeep Singh reviews tech earnings from Meta and DoorDash, and Rania Sedhom highlights the legal battle involving AI music platforms and artists' rights.
41:36
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Quick takeaways
- The recent rise in core PCE suggests the Federal Reserve may hold off on December rate cuts despite ongoing inflation concerns.
- Comcast is considering divesting its cable networks due to subscriber losses and advertising pressures, emphasizing a need for strategic media adjustments.
Deep dives
Federal Reserve's Possible Actions
Recent economic data has showcased shifts that may influence the Federal Reserve's forthcoming decisions on interest rates. Analysts anticipate less dovish behavior from the Fed in light of positive indicators like personal income and spending figures, suggesting a likelihood of rate cuts in upcoming meetings. Market participants are betting on these cuts, with expectations that the Fed might opt to skip the December meeting after a potential adjustment next week. Notably, core inflation remains a concern, particularly due to persistent housing prices, but a decrease in services inflation is noted as a positive signal for overall price stability.
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