Economic Report: Coming up: PCE inflation and consumer spending

A key measure of U.S. inflation known as the PCE index is forecast to rise a sharp 0.9% in June. The core PCE, which excludes food and energy, is seen advancing 0.5%. The yearly increase in the PCE is expected to move up to a nearly 41-year high of 6.9% and the core rate is expected to stay flat at 4.7%.Consumer spending is forecast to climb 0.9% in June. The report on consumer spending and inflation will be released at 8:30 a.m. Eastern by the Bureau of Economic Analysis.In premarket action, the Dow Jones Industrial Average DJIA and S&P 500 SPX were set to open higher in Friday trades.

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