US PCE inflation data for December continued to support the notion of a disinflation trend. Despite reaching an intra-day record high at 4,907, the S&P 500 pulled back, closing the Friday session at 4,891, down 0.1%, primarily due to weakness in the information technology sector. The Nasdaq 100 declined by 0.6%, with Intel having a 13% drop on a downbeat outlook. On a positive note, LVMH saw a surge in stock value after reporting sales that exceeded estimates. Crude oil prices rose to nearly 12-week highs amid suspected Iran-backed drone attacks, resulting in the death of three US soldiers in Jordan, indicating a ... (full story)