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June 1, 2024 | Tech Talk for Saturday June 1st 2024

Don Vialoux

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Donald Vialoux is author of the free blog Tech Talk, a daily investment report available during the past 20 years at www.timingthemarket.ca. Comments focus on the seasonal and technical outlook for equity indices, commodities and sectors. Mr. Vialoux has 53 years of experience in the investment industry and is a past president of the Canadian Society of Technical Analysts (CSTA).

The Bottom Line

North American equity markets responded favourably to the April core PCE Price Index report released on Friday. Consensus was an increase of 0.3% versus a gain of 0.3% in March. Actual was an increase of 0.2%. On a year-over-year basis, the Index gained 2.8%, in line with consensus. This Index is the Federal Reserves’ favoured index for measuring inflation. Economists are guessing that the Fed Fund Rate currently at 5.25%-5.50% could start to decline as early as the FOMC meeting on September 17th -18th.

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June 1st, 2024

Posted In: Tech Talk

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