US STOCKS-S&P 500, Nasdaq set for record open after May inflation data misses estimates
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US STOCKS-S&P 500, Nasdaq set for record open after May inflation data misses estimates

The S&P 500 and the Nasdaq were set for record highs at open on Friday, following robust earnings forecast from Nike, while weaker-than-expected inflation data eased worries about monetary policy tightening in the near term. Inflation has been front-and-center of investors’ minds, with latest personal consumption expenditures (PCE) data showing a measure of underlying inflation rose less than expected in May. Core PCE rose 3.4% year-over-year, above the Fed’s 2% flexible target.