Core personal consumption expenditures inflation excluding food and energy rose 10 basis points to 2.9% in July while overall PCE inflation declined to 2.6% as food and energy prices fell. The Vanguard S&P 500 ETF (VOO) traded about 0.2% lower in Friday premarket following the data. Consumer spending increased 0.5% in July while consumer income rose 0.4%, indicating spending outpaced income gains. Autodesk reported fiscal Q2 2026 EPS of $2.62 and revenue of $1.76 billion, beating estimates and issuing strong guidance that lifted its stock nearly 13% premarket. Marvell reported Q2 results roughly in line with forecasts and projected Q3 earnings above the midpoint of estimates.
After rising modestly Thursday, the Vanguard S&P 500 ETF ( NYSEMKT: VOO) turned lower in Friday's premarket, trading down about 0.2%. New inflation data seems to be to blame. As expected, the Commerce Department's report on July personal consumption expenditures showed core inflation, which excludes food and energy costs, rising 10 basis points in comparison to June to 2.9%. Falling food and energy prices moderated the overall inflation rate, which now stands at 2.6%.
A handful of S&P 500 component companies are still reporting earnings. Among them: Autodesk ( Nasdaq: ADSK) beat on its report by 17 cents last night, earning $2.62 per share in its fiscal Q2 2026. Revenue of $1.76 billion also exceeded expectations versus the consensus estimate of $1.72 billion. Autodesk's guidance was strong, forecasting $2.48 to $2.51 per share in Q3 2026 earnings, and $9.80 to $9.98 for the year - all numbers well ahead of analyst forecasts.
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