Karen Moscow

The S&P 500 down a quarter percent.

The Dow Jones Industrial Average down a third of a percent.

The Nasdaq down a quarter percent.

Ten-year Treasury yield at 4.07 percent.

And we get more on the data with Bloomberg's Michael McKee.

And that's Bloomberg's Michael McKee.

Consumer spending decelerated to a 2.4 percent pace.

Meanwhile, the Fed's preferred measure of underlying inflation.

Known as the Core Personal Consumption Expenditures Price Index, rose 0.4% in December, the most in nearly a year.

On an annual basis, the Core PCE, which excludes food and energy, climbed 3% compared to 2.8% at the start of 2025.

Meanwhile, U.S.

consumers are seeing lower egg prices due to a glut of eggs after producers ramped up production to meet last year's demand.

Consumer prices have fallen to their lowest levels in two years, squeezing farm margins and pushing some operators below break-even.

Oil holding near a six-month high after President Trump warned Iran had 15 days at most to reach a deal over its nuclear program as the U.S.

assembles a vast array of forces in the Middle East.

Bloomberg's Mike McGlone says it's hard to know how high oil prices will go.

And that's Bloomberg's Mike McGlone.

Currently, NYMEX crude oil is at $66.14 a barrel.

It's lower, down four-tenths of a percent.

Brent is down about half percent at $71.34.