Stocks are up today as $DIA and $SPY look to finish higher for a 3rd straight week. $DIA finished lower on Thursday, ending a historic winning streak at 13 days. Today, investors are digesting the release of inflation data and the latest batch of corporate earnings.

For economic data today, the PCE Price Index increased 0.2% in June and was 3.0% higher YoY, the lowest level since March 2021. Core PCE, the Fed’s preferred inflation measure also rose 0.2% in June. Over the past year, core prices were up 4.1%, just below expectations and the lowest level since September 2021.

The Commerce Department also said that personal spending rose 0.5% during the month and personal incomes were up 0.3%. Spending was in line with expectations, while incomes just missed. Elsewhere, the Employment Cost Index rose 1.0% during the second quarter and was up 4.5% over the past year.

Treasury yields are lower, with the 2-year T yield down 4.6 basis points to 4.90%, the 5-year T yield down 5.3 basis points to 4.20%, and the 10-year T yield down 3.5 basis points to 3.98%. Shorter-term advance rates are higher today, while the rest of the curve is lower.