Good morning investors! The market fell for a forth day in a row.
Today we cover:
Core inflation goes higher
Apple and Microsoft raise prices
Gold and silver to go down?
📊 Economy and News
Core Inflation Hits 3.4% in May, Highest Since 2023
The Federal Reserve’s preferred inflation gauge, the core PCE price index, rose 0.3% in May and climbed to a 3.4% annual rate — the highest level since October 2023. Headline PCE inflation increased to 4.1% annually, the highest since April 2023.
Despite elevated inflation, consumer spending remained resilient, rising 0.7% for the month, beating expectations. Personal income also rose 0.7%, and the personal saving rate increased to 3%.
The Commerce Department also revised first-quarter GDP growth upward to a 2.1% annualized pace, higher than previously estimated.
The data reinforces the Fed’s cautious stance on inflation amid ongoing pressures from energy prices and other factors, while markets continue to price in a potential rate hike in September.
Global hits:
Iran behind attack on cargo vessel near Oman in Strait of Hormuz, U.S. official tells MS NOW.
Mexico central bank holds key rate at 6.50% as expected.
Iraq piles pressure on OPEC over quota dispute after UAE exit.
Reminder: Supreme Court limits Roundup cancer suits against Bayer’s Monsanto.
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📈 Stocks
S&P 500 5,620.85 (+0.42%)
DJIA 40,890.49 (+0.14%)
NASDAQ 17,918.99 (+0.57%)
BRENT CRUDE 76.14 (-1.37%)
* Prices as of Mar 3rd, 12:20 AM UTC
Memory Prices Cause Apple and Microsoft to Raise Prices, Taking The Stock Down
Microsoft said it’s increasing the price of Xbox game consoles after Apple announced price hikes for MacBooks and iPads.
Starting Aug. 1, Xbox Series S consoles containing 512GB of storage will go up by $100 to about $500, and models with 1TB will increase by $150.
Microsoft said “console storage and memory prices have increased by more than 2.5x and we expect another doubling by the fall of 2027.”
Microsoft said the 2TB Xbox Series X, introduced in 2024, will no longer be available.
Microsoft shares fell 3.5% on Thursday. Similarly, Apple’s stock dropped 6.1% when the company. This was the stock’s worst fall since April 2025.
Here are the latest changes from Apple:
MacBook Neo entry $599 increasing to $699
MacBook Air 512GB $1099 increasing to $1299
MacBook Pro 1T $1699 increasing to $1999
iPad Air 128GB $599 increasing to $749
iPad Pro Wifi 256GB $999 increasing to $1199
Interesting: On Semiconductor strikes $7 billion deal for Synaptics in physical AI push.
General Motors revealed its 2027 GMC Sierra 1500 pickup trucks, with new V-8 engine options and redesigned interior and exterior styling.
Surprising: Tesla to ramp up production in Germany by 20%. Also, South Korea was hoping to take the first step to an upgrade to developed-market status with MSCI this year. However, the index provider’s latest review kept the country in its Emerging Markets category.
AI rocks: South Korean chip giant SK Hynix surged more than 12% , buoyed by plans to raise as much as $29.4 billion in a U.S. stock market listing and stronger-than-expected quarterly results from U.S. rival Micron that itself jumped 15% after reporting blowout third-quarter earnings.
💵 Personal Finance
Gold Hovers Near $4,000, Silver Below $60 as Rally Loses Momentum
Gold prices remained near $4,000 an ounce on Thursday, trading around $3,990–$4,026, while silver held below $60 at approximately $57.50. Year-to-date, gold is down roughly 7.5–8%, and silver has dropped nearly 20%.
The precious metals rally that surged in 2025 has stalled amid hawkish central bank policies, rising interest rates, a stronger U.S. dollar, and fading safe-haven demand following the easing of Middle East tensions. Markets are now pricing in a Federal Reserve rate hike as early as September.
Analysts expect continued pressure on prices in the near term, with potential for further declines into 2027 as investor money shifts toward equities and growth assets. Central banks, however, remain long-term buyers of gold as a hedge against inflation and geopolitical risks.
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