FTSE 100 Live 26 April: Index ends best week of 2024 at another record high [Video]

Commenting on US Core PCE Price Index, Ryan Brandham, Head of Global Capital Markets, North America at Validus Risk Management, said: “US Core PCE Price Index came in slightly stronger than expected, reinforcing the recent market narrative of sticky US inflation as the market prices out cuts in 2024. After yesterday’s lower growth / higher prices GDP print, market expectations for today’s PCE number were likely elevated heading into the release.

Although the PCE results at face value are hawkish, it’s possible we see a “buy the rumour, sell the news” response in today’s market session to close out the week.”