美联储最青睐通胀数据缓解忧虑，三大指数终结三连阴｜美股一线

Core Insights - The core inflation measure, the Personal Consumption Expenditures (PCE) price index, rose by 0.3% month-on-month and 2.7% year-on-year in August, while the core PCE, excluding food and energy, increased by 0.2% month-on-month and 2.9% year-on-year, indicating stable inflation data [1][2] - Following the release of the PCE data, U.S. stock markets rebounded after three consecutive days of decline, with the Dow Jones up 0.65%, S&P 500 up 0.59%, and Nasdaq up 0.44% [1] - The consumer confidence index for September was reported at 55.1, the seventh lowest since records began in 1952, reflecting a pessimistic outlook among consumers, particularly among lower-income households [3] Economic Indicators - Initial jobless claims fell by 14,000 to 218,000, the lowest since mid-July, indicating a resilient labor market [1] - The second quarter GDP growth was revised up to an annualized rate of 3.8%, significantly higher than the previous estimate of 3.3%, driven by strong consumer spending and a decline in imports [1] - Consumer spending, which accounts for over two-thirds of U.S. economic activity, increased by 0.6% in August, surpassing expectations of 0.5% [3] Consumer Sentiment - A significant 44% of survey respondents reported that high prices are eroding their financial situation, the highest proportion in the past year [3] - The consumer sentiment is primarily driven by high-income households, while lower-income families are struggling with rising living costs [3] - Economists predict a notable slowdown in consumer spending growth by the end of the year due to the impact of rising prices [3][4] Market Outlook - The Federal Reserve is likely to continue its interest rate cuts, with differing views among officials regarding the pace and extent of these cuts [2] - The wealth effect, driven by stock and housing market performance, is increasingly influencing consumer spending, posing risks if these markets experience volatility [4]