Job Openings May Show AI Jobs Impact; S&P 500 Falls As Inflation Rises

Group 1: Job Openings - The number of job openings at the end of January increased by 396,000 to 6.95 million, following a revised December figure [1] - Hires rose to 5.294 million from 5.272 million, while separations decreased to 5.105 million from 5.203 million [1] Group 2: Inflation Data - The core PCE price index rose by 0.363% month-over-month, leading to a 12-month inflation rate of 3.056%, indicating a minor overshoot of expectations [1] - The overall PCE price index increased by 0.3% month-over-month, while the headline inflation rate dipped to 2.8% from 2.9% [1] - The core PCE price index unexpectedly ticked up to 3.1% from 3% year-over-year [1] Group 3: Economic Growth - Fourth-quarter GDP growth was revised down to an annual rate of 0.7% from 1.4%, with downward revisions noted in exports, consumer spending, and government spending [1] - Real final sales to private domestic purchasers rose by 1.9%, revised down from 2.4%, marking the lowest reading since the end of 2022 [1] Group 4: Personal Income and Spending - Personal income rose by 0.4%, below the forecast of 0.5%, while personal consumption also increased by 0.4%, exceeding the forecast of 0.3% [1] Group 5: Market Reactions - S&P 500 futures rose by 0.55% following the economic data release, recovering from a previous decline [1] - The 10-year Treasury yield decreased to 4.24%, and crude oil prices fell nearly 3% [1]