Worries about high inflation continue to weigh on investors' minds, as hotter-than-expected data this week showed the stubbornness of lofty prices.
Most important this week is Friday's core personal consumption expenditure price index for January. The Fed prefers this reading because it looks at changes in consumer behavior, including whether buyers are substituting goods based on prices. In comparison, the consumer price index , released this past week, only tracks price changes over time. The market is expecting the core PCE price index to rise 0.4% monthly and 4.9% annually.
People walk along 5th Avenue in Manhattan, one of the nation's premier shopping streets on February 15, 2023 in New York City.A pair of macroeconomic reports will hog the market's attention again this coming week, including a reading that is the Federal Reserve's favorite measure of inflation.
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