The US economy saw two key indicators release data that fell short of expectations. The Federal Reserve’s inflation rate was higher than anticipated, while fourth-quarter GDP growth slowed down more than predicted. This led to a slight decrease in the S&P 500 opening the next day.
Markets were on high alert due to potential conflicts with Iran and possible rulings from the Supreme Court regarding tariffs imposed by former President Trump. Despite concerns about ongoing job market stability, rising inflation remains a pressing issue.
Source: https://www.investors.com/news/economy/federal-reserve-core-pce-inflation-rate-q4-gdp