July 31, 2018
There are no building pressures in today's inflation results led by soft readings for the PCE price indexes and a quarterly downtick in employer costs. The FOMC will announce its decision tomorrow amid only marginal expectations for a rate hike.
Stocks rallied on the session with the Dow up 0.4 percent to 25,415. Oil swung $1 lower and is back below $69 with gold steady near $1,235. Rates and the dollar were little changed.