Rate Cut Hope Soars on Soft Economic Data: 5 Mid-Cap Tech Picks

Average hourly earnings increased 0.3% for the month in June and 3.9% from a year ago, both in line with estimates. However, the data for May was 0.4% and 4%, respectively. The average workweek remained flat at 34.3 hours. The core personal consumption expenditure (PCE) price index (excluding volatile food and energy items) rose 0.1% month over month in May compared with 0.3% growth in April. Year over year, core PCE inflation — the Fed's most favorite inflation gauge — rose 2.6% in May compared with 2.8% i ...