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Stocks Ease Despite Benign Inflation Data, Bitcoin Stages Comeback: What’s Driving Markets Friday? – Broadcom (NASDAQ:AVGO), Advanced Micro Devices (NASDAQ:AMD)

Major stock indices were poised for a mixed session during midday trading in New York, with investors assessing another mild inflation report while taking note of personal spending growth that exceeded expectations.

The Personal Consumption Expenditure (PCE) price index — also known as the Fed’s favorite inflation gauge — held steady at 2.6% year-on-year in December 2023, remaining at the lowest levels in nearly three years. Simultaneously, personal spending figures significantly exceeded economist projections, growing by 0.7% month-over-month, leading to doubts about whether the strong economy might deter the Fed from rushing to cut interest rates.

Short-term Treasury yields ticked…

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