Sep 30, 2026 · 10 min

PCE inflation and Micron earnings test market expectations

PCE Prices, Micron Results Could Help Set Tone

The episode frames incoming inflation data and corporate results as potential signals for the Federal Reserve and markets.

3 key takeaways

1August PCE inflation could influence expectations for the Federal Reserve’s next interest-rate decision.
2Micron Technology’s earnings may provide a catalyst for the technology sector and broader market sentiment.
3Bond yields and oil prices remain important drivers alongside economic data and corporate results.

Don't miss

The preview connects the August PCE inflation report directly to expectations for the Federal Reserve’s next interest-rate decision.

The brief

Keith Lansford opens the market update by previewing August Personal Consumption Expenditures inflation data, with the Federal Reserve’s next meeting looming.

The PCE report matters because it could shift expectations around the Federal Reserve’s upcoming interest-rate decision and influence broader market sentiment.

Micron Technology’s earnings emerge as a potential catalyst for the technology sector, adding a company-specific test to the macroeconomic outlook.

The episode also keeps bond yields and oil prices in view, underscoring how several market drivers may shape the tone beyond the inflation release.

What was said on this episode

15 statements · 2 positive · 7 negative · 2 mixed · 4 neutral

Keith Lansfordon Federal Reserve rate outlookNeutral1:14
The Fed rate outlook depends on inflation’s breadth and pace.
“The outlook largely depends on the breadth and pace of inflation.”
Listen at 1:14
Keith Lansfordon PCE inflation dataNeutral1:19
PCE inflation data could inform the Federal Reserve’s future rate path.
“PCE will be important and could help inform the future path of the Fed fund's rate.”
Listen at 1:19
Keith Lansfordon September non-farm payrolls reportPositive3:04
A very strong jobs report could raise October and December hike odds.
“A very strong jobs report might raise rate hike odds for both October and December”
Listen at 3:04
Keith Lansfordon September non-farm payrolls reportNegative3:09
Only a very weak jobs report would likely lower hike odds or Treasury yields substantially.
“but it would likely take a very weak report to send a hike chances or Treasury yields much lower.”
Listen at 3:09
Keith Lansfordon Micron TechnologyMixed5:26
Micron shares could move 9% after its earnings report.
“Micron shares could be volatile after the report, with the options market projecting a 9% move.”
Listen at 5:26
Keith Lansfordon AI marketsMixed5:32
The broader AI market could follow Micron and move major indexes pre-market.
“The rest of the AI market could follow Micron, likely moving major indexes in pre-market trading Thursday.”
Listen at 5:32
Keith Lansfordon Micron earnings reportNeutral5:39
Micron’s market impact might emerge fully during Thursday’s regular session.
“The full impact, however, might not be felt until Thursday's regular session begins and volume reaches normal daily levels.”
Listen at 5:39
Keith Lansfordon Financial marketsNegative5:48
Market volatility could increase on the quarter’s final day.
“Volatility could also be up in general today as it's the final day of the quarter.”
Listen at 5:48
Keith Lansfordon Quarter-end tradingNegative5:53
Quarter-end conditions can cause profit-taking.
“This can cause some profit-taking.”
Listen at 5:53
Keith Lansfordon Market participantsNeutral6:00
Market participants may be staying inactive ahead of key economic and earnings reports.
“It appears participants might be lying low awaiting today's PCE data, Micron, and Friday's payrolls report.”
Listen at 6:00
Keith Lansfordon S&P 500 market breadthNegative6:27
Only 24% of S&P 500 stocks trade above their 50-day moving averages.
“The percentage of S&P 500 stocks trading above their 50-day moving averages, an important metric for market breadth, is weak at 24%”
Listen at 6:27
Keith Lansfordon S&P 500 market breadthNegative6:41
S&P 500 breadth reached a yearly low just below 18% in March.
“The low this year was in March, just below 18%.”
Listen at 6:41
Keith Lansfordon StarshipNegative8:00
SpaceX’s Starship completed two orbits rather than six because of launch engine problems.
“However, the ship only made it through two orbits instead of the six planned due to engine problems at launch.”
Listen at 8:00
Keith Lansfordon CarMaxPositive8:08
CarMax shares rose almost 5% after impressive earnings.
“CarMax surged almost 5% as earnings impressed.”
Listen at 8:08
Keith Lansfordon Financial sectorNegative8:14
The financial sector declined more than 6% in September.
“the financial sector is down more than 6% in September.”
Listen at 8:14

Statements are attributed to the speaker as said on the episode and reflect their view at the time, not PodLume's. They are not advice.