The U.S. Personal Consumption Expenditures (PCE) price index for May has been released.

According to the U.S. Bureau of Economic Analysis (BEA) announcement on June 25, Korea time, the May PCE price index rose 4.1% year-over-year. Core PCE, which excludes volatile food and energy prices, also increased 3.4% compared to the same period last year. This follows the April PCE inflation rate (3.8%) released on May 28.

PCE is considered one of the key indicators for gauging the direction of U.S. interest rates. Attention is focused on how market expectations regarding the future path of the U.S. Federal Reserve's benchmark interest rate may shift following this inflation data release.

Meanwhile, after the close of regular trading on U.S. markets on June 25, Korea time, Micron reported third-quarter earnings that exceeded market expectations. This has contributed to improving investor sentiment across the broader semiconductor sector. With the PCE indicator, which will influence the direction of interest rates, intersecting with strong semiconductor earnings, attention is also focused on the impact this will have on overall investor sentiment and trends in U.S. stock markets going forward.