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June PCE, Trump at crypto conference, Apple: 3 Things

Yahoo Finance

Stock futures (^DJI, ^IXIC, ^GSPC) are gleefully in the green after the Personal Consumption Expenditures (PCE) index saw — the Federal Reserve's preferred inflation gauge — saw prices rose at the slowest pace in over three years.

Republican presidential nominee Donald Trump will be speaking at a bitcoin conference in Nashville, TN, on Saturday.

Reports have indicated that as Apple's (AAPL) iPhone sales continue to decline in China, Apple's standing in the region has fallen out as one of the top five smartphone makers.

For more expert insight and the latest market action, click here to watch this full episode of Morning Brief.

This post was written by Luke Carberry Mogan.

Video transcript

So let's get right to it.

The three things you need to know this Friday morning, yah finances Jennifer Shaber Madison Mills and Josh have more stock futures moving higher.

After a fresh reading on the feds for inflation gauge showed inflation didn't pick up in the month of June but didn't fall either.

The personal consumption expenditures index clocked in at 2.5% and excluding those of volatile food and energy prices at 2.6% on a core basis, that's 1/10 of a percent higher than estimates and holding the level of 2.6% in May.

This data likely paving the way for the Federal Reserve to open the door at its policy meeting next week for a rate cut this fall and crypto is surging the market anticipating future gains.

The former president Donald Trump set to speak at a Bitcoin convention in Nashville on Saturday despite one calling Bitcoin a scam back in 2021.

Trump is expected to deliver a supportive speech on the digital currency.

The price of Bitcoin is still moving to the upside of nearly 5% ahead of that speech.

We have live coverage in Nashville on the event.

And Apple struggles to sustain its popularity among Chinese consumers.

The company has lost its crown as one of the top five smartphone sellers in China.

According to data from I DC, Apple saw sales of its iphone in China fall over 3% in the second quarter from a year ago.