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March PCE and big tech earnings reaction ?3

11:25 30-Apr-26


This morning's March PCE numbers, were bound to be ignored following yesterday's Fed event and big tech earnings.  They were all in line anyway, except for income, which doubled estimates at +0.6%.  This service argues that the headline at +0.7% and spending at +0.9% should be concerning, but not to rich people, and thus not to market indexes.  FedWatch currently has a 3% chance of a rate cut at the next meeting on June 17th, up from 1% yesterday, but closer to longer term perceptions that were only fractionally above that.

Instead the significant point to note in this morning's trade is that stock movement after last night's reports are "ordered by net income growth, rather than revenue or other metrics", in the words of our parent CrowdWisers service, which has long covered the trend toward AI monetization in much more detail.