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August PCE Finishes the Week
Tom White
September 26, 2025
U.S. stock futures are relatively flat in premarket trading ahead of crucial inflation data.
The four major U.S. indexes fell again on Thursday while the 10-year Treasury yield rose to 4.2% at one point during the session on the back the latest economic data.
Investors are awaiting the release of August’s personal consumption expenditures price index out at 8:30 a.m. ET, as the release is widely known to be the Federal Reserve’s preferred inflation measure.
Economists expect the print to reflect an uptick in inflation and markets continue to price in two quarter-point rate cuts at the Fed’s upcoming meetings, in line with what the central bank has projected.
Morning Movers
Snapshot (as of 7 AM ET)
Oil (/CL) – Oil prices are down 0.1% near $65 a barrel, on track for a 4% weekly gain, as Ukraine’s attacks on Russia’s energy infrastructure prompted Moscow to curb fuel exports.
Gold (/GC) – Gold futures are relatively flat near $3775 after better-than-expected U.S. GDP data dampened bets of further U.S. rate cuts, while investors awaited key inflation data later in the day.
Bitcoin (/BTC) – The Crypto Future is down slightly near 109,500 in premarket trading.
VIX – The CBOE Volatility Index was up 3.5% on Thursday and settled at 16.74 as stocks fell.
U.S. Dollar (/DX) – The dollar is down 0.1% to 98.1.
Biggest Premarket Movers
Symbol | Product | Mark % Change (as of 7 AM ET) |
|---|---|---|
PCAR | Paccar | +6.20% |
INTC | Intel | +4.62% |
TXN | Texas Instruments | +3.27% |
DELL | Dell Technologies | -1.65% |
SMCI | Super Micro | -1.38% |
WBD | Warner Bros. Discovery | -1.31% |
Economic Data
Time | Event |
|---|---|
7:30AM ET | Fed’s Barkin Speaks |
8:30AM ET | Personal Income & Outlays |
9:00AM ET | Fed’s Barkin Speaks |
10:00AM ET | U of Michigan Consumer Sentiment |
1:00PM ET | Fed’s Bowman Speaks |
Notable Earnings
Premarket | Postmarket | Premarket Monday | Postmarket Monday |
|---|---|---|---|
None | None | CCL | IDT, JEF, PRGS, MTN |
Upgrades/Downgrades
Rothschild & Co Redburn upgrades Kenvue (KVUE) to Buy from Neutral
JPMorgan upgrades Riot Platforms (RIOT) to Overweight from Neutral
Rosenblatt upgrades Ciena (CIEN) to Buy from Neutral
KeyBanc downgrades Warner Bros. Discovery (WBD) to Sector Weight from Overweight
Evercore ISI downgrades CarMax (KMX) to In Line from Outperform
Scotiabank downgrades EOG Resources (EOG) to Sector Perform from Outperform
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