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#USCorePCEMay U.S. May Core PCE Price Index Year-on-Year at 2.7%, expected 2.6%. According to Odaily Planet Daily, the U.S. May Core PCE Price Index year-on-year recorded 2.7%, higher than the expected 2.6%, marking the highest level since February 2025. The May Core PCE Price Index month-on-month recorded 0.2%, with the market expecting it to remain at 0.1%. ● U.S. Treasury Secretary Basant: May reimpose reciprocal tariffs on 20 countries. According to Deep Tide TechFlow, on June 28, U.S. Treasury Secretary Basant stated that reciprocal tariffs may be reimposed on 20 countries. If it is deemed that the other party is negotiating in good faith, tariffs for these countries may remain at 10%. ● Market Analysis: S&P 500 Index approaches historical highs but faces key tests. According to Jin Shi Data, the S&P 500 Index is near historical highs, but the upcoming earnings season poses a challenge to the upward momentum. Wall Street expects second-quarter profits to grow only 2.8% year-on-year, the smallest increase in two years. Yardeni Research estimates that only 6 out of 11 sectors are expected to see profit growth, the least since the first quarter of 2023. Market observers warn that the index valuation is too high, requiring a surge in profits or significant interest rate cuts to justify it. Technical analysts believe that without more sectors rising, the index may decline in the coming months. Sarah Hunt, chief market strategist at Alpine Woods Capital Investors, stated that there are risks to the stock market rebound, with some sectors deteriorating or accelerating momentum compared to others.
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