Markets traded lower during Friday’s premarket session after the Bureau of Economic Analysis reported a 5.4% gain Personal Consumption Expenditure (PCE) Price Index. for the month of January.

By Numbers: PCE rose 5.4% year-on-year in January from 5.3% in December. Despite macro estimates of 4.9%, January PCE exceeded expectations. Continue reading…

Core PCE, this is the Federal Reserve’s preferred measure of inflation and excludes it volatile Food and energy prices rose 4.7% in January, beating economists’ estimate of 4.3%.

As the Fed prepares for its March meeting, PCE data is likely to be closely watched. The bond market projects a 76% chance of the Fed raising rates by 0.25% next month and sets the target range for Fed funds at 4.75% to 5%.

Which stocks were hit the hardest on Friday’s news?

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