Part 4/7:
The U.S. labor market remains robust, providing some reassurance for economic stability. The recent PCE data, which reflects inflation trends tied to wages and consumer spending, points to a slightly higher-than-expected inflation rate. This data has likely contributed to the market's cautious response, causing the major indices to pare earlier gains and close lower for the day. The S&P 500, for instance, dipped by approximately 0.33%, ending the session down 1.4%.