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13:53
US Stocks Parry Gains as Nasdaq Turns Down by 0.62%
BlockBeats News, June 25th, according to Bitget market data, the US stock market saw a narrowed gain, with some indices reversing gains. The S&P 500 index reversed to a 0.03% decline, the Nasdaq turned down by 0.62%, and the Dow Jones Industrial Average saw a modest increase of 0.44%. Apple's stock price extended losses to 5%, while Dell dropped by 9.3%.
13:47
According to data from the Federal Reserve Bank of New York, the Secured Overnight Financing Rate (SOFR) was 3.62% on the previous trading day (June 24), the same as the prior day.
The effective federal funds rate for the previous trading day was reported at 3.63%, unchanged from the day before.
13:43
Economist: U.S. core PCE will not easily decline
Odaily reports that after the Personal Consumption Expenditures (PCE) index rose by 4.1% year-on-year in May, some economists predicted this might mark the peak of price increases. However, Joseph Brusuelas, Chief Economist at RSM, stated that the 0.3% increase in the core inflation rate and the 3.4% year-on-year rise may have lasting impact. Given the evident internal transmission pressure in the Producer Price Index (PPI) over the past few months, unlike the overall data, these prices are unlikely to drop easily.
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