(News Bulletin 247) – Wall Street is expected to be in the red on Friday morning, the announcement of the slowdown in a key measure of inflation failing to overshadow the unwelcome results of the giant Amazon.

Half an hour before the open, futures on the main New York indices fell 0.2% to 0.3%, suggesting a slightly lower opening.

Index futures, however, reduced their losses following the announcement this morning of a deceleration in the PCE price index in March, an element likely to encourage the Fed to be more cautious in terms of rates. .

Core PCE (excluding food and energy prices) – the Fed’s preferred measure of inflation – rose 4.6% in March, from +4.7% in February .

In view of such indicators, the central bank can finally hope to see inflation come back towards its target of 2%, after its exponential progression of the last two years, which could allow it to mark a pause in its cycle of monetary tightening. .

On the bond compartment, the yield of the 10-year American is also down to 3.46% in reaction to this better than expected statistic.

But this good news does not manage to hide the disappointment Amazon, which fell 2.5% in pre-market quotations following the publication of its first quarter results, marked by a drop in profits for AWS, its division. -Lighthouse.

‘AWS’s cautious outlook contrasts sharply with more favorable cloud commentary and forecasts from Microsoft and Google,’ Wedbush analysts said this morning.

If the decline of the e-commerce giant should weigh on technology stocks, the Nasdaq could be supported by Intel’s accounts, on the contrary applauded by the market.

The manufacturer of microprocessors reported last night a loss for its first quarter, but the strength of its turnover has reassured analysts.

‘Hasn’t the group passed its low point?’ asks a trader. ‘We can legitimately wonder if the next few years could not begin to hold good surprises’, he predicts.

Note that oil producers Chevron and ExxonMobil are changing little in pre-opening after unveiling in the morning quarterly results above expectations, which could benefit the energy sector.

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