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PCE Inflation Increased Than Expected, MSFT also GOOG Earnings Beat

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PCE Inflation Increased Than Expected, MSFT also GOOG Earnings Beat
Personal Consumption Expenditures (PCE), the Fed's preferred index of inflation, came in higher than expected for the month of March this morning. Another feather in cap of the 'Higher for Longer' crowd. Meanwhile we got big earnings beats from Microsoft and Alphabet yesterday showing growth in cloud services which is re-energizing the AI trade following…