April’s PCE report, the Federal Reserve’s preferred measure of inflation, came in in-line with expectations as prices appeared to remain steady. While the SPDR S&P 500 Index Trust SPY popped initially during Friday’s pre-market trading session on the report, stocks have since given up those gains as the overall market traded lower for the third day in a row.
And while the market appears to be not exactly loving the inflation report, some experts say the numbers were exactly what we needed. Jonathan Corpina, Senior Managing Partner at Meridian Equity Partners, joined Benzinga’s PreMarket Prep Friday morning to provide commentary on the report and what it means for stocks.
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Corpina provided a cautious outlook Friday morning before the market opened, saying he was unsure if stocks would be able to hold their gains after the spike higher following the release of…
