US Core PCE Falls Below Expectations as Micron Revenue Guidance Surpasses Forecasts

The US core PCE price index annual rate came in lower than market expectations, signaling a marginal easing of inflationary pressure. Meanwhile, semiconductor giant Micron Technology (MU) issued revenue guidance for the next fiscal quarter that significantly exceeded Wall Street estimates, highlighting resilient demand in the industry. Additionally, Donald Trump announced plans for the withdrawal of US troops from Iraq, prompting the Iraqi government to increase crude oil export discounts for October to maintain sales amid potential supply shifts.