Wall Street Rebounds: PCE In‑Line, Tariff Shock, and Fed‑Cut Bets — What It All Means (Sept. 26, 2025)
Key facts (today) The U.S. stock market today — what moved prices 1) The data that mattered: PCE & spendingMarkets exhaled as the Fed’s preferred inflation gauge arrived exactly as expected: headline PCE +0.3% m/m (2.7% y/y), core +0.2% m/m (2.9% y/y). Treasury yields drifted lower, with the 10‑yr near 4.18% and the 2‑yr around 3.65%, signaling relief that there was no upside shock. Futures ticked higher on the print. Reuters “This should give some reassurances on the inflation side,” said Doug Beath of Wells Fargo Investment Institute. Reuters Consumer spending stayed solid in August, adding to this week’s Q2 GDP revision to 3.8%. The resilience complicates the Fed’s job (growth strong, inflation easing