Investing.com– The S&P 500 slipped Wednesday, but the broadening out of the rally beyond tech kept losses in check ahead of key inflation data that will likely influence the Federal Reserve interest rate outlook.
By 16:00 ET (21:00 GMT), the fell 23 points, or 0.1%, fell 0.2%, lower and dropped 0.6%.
Signs of cooling in economy ahead PCE inflation in focus
The U.S. economy at a 3.2% annualized rate in the fourth quarter, revised slightly down from the previously reported 3.3% pace, and a drop from 4.9% growth the prior quarter.
“While the minimal revision to fourth-quarter GDP underscores the ongoing storyline of a strong economy and resilient consumer […] momentum clearly slowed from an outsized rise of near 5% in the third quarter into year-end,” Stifel said in a note.
The weaker growth data come just a day ahead of the , the Fed’s preferred inflation gauge, that is likely to factor into the central bank’s outlook on…
