Welcome to Markets Desk, here's what's moving the needle this afternoon.
Core PCE inflation came in at three point four percent for May, the hottest reading since October of twenty twenty three, and notably cooler than the four point one percent economists had penciled in. That miss to the downside is meaningful — it gives the Fed some breathing room and takes pressure off the rate path, at least for now.
Shifting to corporate pricing power, Apple is raising prices on MacBooks and iPads, citing a crunch in memory and storage components. Tim Cook flagged this last week, and the company is signaling more hikes could follow. It's a reminder that hardware margins remain vulnerable when upstream supply costs spike, regardless of brand strength.
And over at JPMorgan, Jamie Dimon has elevated Doug Petno and Troy Rohrbaugh to co-presidents of the bank, handing them oversight of two of its largest divisions. This is the clearest succession signal Dimon has sent in years — both men now sit squarely in the frame as potential heirs to one of the most consequential seats in global finance.
That's the tape. Markets Desk, signing off the floor.
