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NEW YORK SPOT METAL PRICES

July 28, 2023

After Thursday’s post-Fed selloff, metals rebounded to recoup some of their losses on weakening inflation data Friday. CPE rose 3% year-over-year and core CPE came in slightly lower than expected at 4.1% which is its lowest level since September 2021. Stocks surged on the PCE data with the Nasdaq leading the way, up 2% heading into the final hour of trading. The S&P 500 gained 1% and the Dow is up 177 points, or 0.5%.