S&P 500 Futures Slip as Core PCE Stays at 3.4%, Keeping Fed Cautious

MacroPrice Action
โดย Simply Wall St·Read original
Summary · why it matters

US stock futures are pointing lower with E-mini S&P 500 contracts down about 0.3% and Nasdaq-100 futures weaker by roughly 1.2% as investors weigh solid spending against stubborn inflation. Core PCE inflation sits at 3.4% year over year, while real personal spending grew 0.3% and incomes rose 0.7% in May, suggesting households are still spending. The key question is whether the Federal Reserve will keep rates higher for longer, putting pressure on growth stocks and housing-related sectors. Among top movers, Moderna jumped 12.59% after Piper Sandler raised its price target, ServiceNow climbed 9.85% after being dropped from the Russell Top 50 Index, and Snowflake advanced 9.64% after Russell index changes added it to midcap growth benchmarks. On the losing side, ON Semiconductor fell 23.66% after announcing a roughly US$7 billion all-stock acquisition of Synaptics, Bloom Energy declined 18.49% as multiple Russell index changes shifted the stock between benchmarks, and Western Digital dropped 13.17% following Russell index rebalancing. On the radar, earnings from NIKE and Constellation Brands are due alongside fresh readings on US spending and inflation, with NIKE reporting Q4 results on Tuesday and Constellation Brands posting Q1 results after the market close on Tuesday.

Impact on stocks 9

Artificial Intelligence± Mixed · 2 stocks
ServiceNow Inc
NOW
▲ PositiveCapitalrelevance

Dropped from Russell Top 50 Index, causing a 9.85% gain (index rebalancing).

Synaptics Incorporated
SYNA
▼ NegativeCapitalrelevance

ON Semiconductor's all-stock acquisition of Synaptics is a capital event; Synaptics is being acquired.

Cloud & Digital Infrastructure± Mixed · 2 stocks
Snowflake Inc.
SNOW
▲ PositiveCapitalrelevance

Added to midcap growth benchmarks via Russell index changes, gaining 9.64%.

Biotech & Genomic Medicine▲ · 1 stocks
Moderna Inc
MRNA
▲ PositiveCapitalrelevance

Piper Sandler raised its price target, driving a 12.59% jump.

Semiconductors▼ · 1 stocks
Energy Transition & Power Demand▲ · 1 stocks
Consumer Discretionary▲ · 1 stocks
Consumer Staples▲ · 1 stocks
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