These three stocks are must-owns after the PCE data
Wall Street did not get the inflation report it wanted. The July Personal Consumption Expenditures (PCE) price index rose 3.7% year-on-year, matching June but exceeding economists’ 3.6% forecast, while core PCE increased 3.3%. Yet the report was not uniformly negative for stocks. Personal income climbed 0.4% in July, disposable income rose 0.5%, and consumer spending went up 0.2%, suggesting the economy remains capable of absorbing higher prices. The result is a market environment that favors companies with pricing power, resilient demand, and business models capable of benefiting from higher-for-longer rates. Here are three stocks that experts like. JPMorgan Chase (JPM) JPMorgan stock stands out as “one of the clearest beneficiaries” of the PCE report that keeps the Federal Reserve cautious....
Wall Street did not get the inflation report it wanted. The July Personal Consumption Expenditures (PCE) price index rose 3.7% year-on-year, matching June but exceeding economists’ 3.6% forecast, while core PCE increased 3.3%. Yet the report was not uniformly negative for stocks. Personal income climbed 0.4% in July, disposable income rose 0.5%, and consumer spending went up 0.2%, suggesting the economy remains capable of absorbing higher prices. The result is a market environment that favors companies with pricing power, resilient demand, and business models capable of benefiting from higher-for-longer rates. Here are three stocks that experts like. JPMorgan Chase (JPM) JPMorgan stock stands out as “one of the clearest beneficiaries” of the PCE report that keeps the Federal Reserve cautious....