๐ PCE inflation tops 4% โ and Fed rate-hike talk is suddenly back
May PCE came in above 4%, a three-year high, pushing markets to price in a possible Fed hike instead of a cut. Apple fell 6.2% and Microsoft 3.5% after each announced price increases, and a reported OpenAI IPO delay added to the tech wobble. The S&P 500 finished essentially flat at ~7,357. How are you positioning if cuts turn into hikes?
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