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Economic Report: Coming up: PCE inflation and consumer spending

A key measure of U.S. inflation known as the PCE index is forecast to rise 0.1% in August. The core PCE, which excludes food and energy, is seen advancing 0.5%.

The yearly increase in the PCE is expected to slip to 6% from 6.3%. The core rate is expected to move up a tick to 4.7%. 

Consumer spending is forecast to climb 0.3% in August. 

The report on consumer spending and inflation will be released at 8:30 a.m. Eastern by the Bureau of Economic Analysis. 

In premarket trades, the Dow Jones Industrial Average
DJIA,
-1.54%

and S&P 500
SPX,
-2.11%

were set to open higher in Friday trades. Stocks have tumbled the past few weeks in response to higher interest rates and the growing threat of recession.

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