US Stocks Rise 0.5% as Jobless Claims Fall to 215,000 and Core PCE Misses Forecasts
Updated
Updated · Upstox · Jun 25
US Stocks Rise 0.5% as Jobless Claims Fall to 215,000 and Core PCE Misses Forecasts
3 articles · Updated · Upstox · Jun 25
Summary
Wall Street opened higher, with the Dow up more than 300 points, or 0.6%, and the S&P 500 and Nasdaq 100 each gaining about 0.5%.
215,000 new jobless claims and a 0.4% monthly rise in core PCE—below the 0.5% expected—helped ease worries about overheating and sticky inflation.
Inflation still showed pressure underneath: headline PCE accelerated to 4.1% in May from 3.8%, while annual core PCE edged up to 3.4% from 3.3%, well above the Fed's 2% target.
Micron jumped more than 18% after reporting record earnings, saying revenue surged to $41 billion from $9 billion a year earlier and guiding for $50 billion next quarter.
Oil also offered support, with Brent near $73.8 and WTI around $70 as Strait of Hormuz traffic normalized, reinforcing risk appetite already buoyed by the AI trade.