PCE Data Shows Surge in Consumer Spending

Today is not only Leap Year Day — the last time we saw one of these was less than a month before the country shut down for the Covid pandemic — but also the most important morning for this trading week. This morning brings us Personal Consumption Expenditures (PCE) for January which, while mixed, are being met favorably by pre-market trading: while the top three market indices were all wallowing in the red ahead of the report, they are currently +0.2% on the Dow, +0.3% on the S&P 500 and +0.57% on the Nasda ...