S&P 500 headed for new record as Trump's trade deal with China adds to the mood

  • 8:50am: Core inflation tops forecasts in May US inflation remained above the Federal Reserve's 2% target in May, with core prices rising more than expected, complicating the case for interest rate cuts later this year. The Personal Consumption Expenditures (PCE) price index—the Fed's preferred inflation gauge—rose 2.3% year-over-year, in line with estimates.