PCE Inflation Better Than Feared As Rate Hike Looms; S&P 500 Futures Dip (Live Coverage)

The Federal Reserve's primary inflation gauge rose less than expected in April, though the 12-month inflation rate still rose to the highest level since late 2023. The report may have slightly calmed Wall Street's nerves over inflation as oil prices rebound early Thursday. S&P 500 futures narrowed slight losses as the benchmark index ride a six-session winning streak.