The Fed's favorite inflation measure is lower than expected and a slowdown in bank borrowing signals stabilization in that sector. Here’s what investors need to know today.

1. 🍌Key Fed Inflation Measure Comes in Below Projections

The Commerce Department's Personal Consumption Expenditures (PCE) Price Index rose 0.3% last month, less than the 0.5% economists expected after rising 0.6% in January. On an annual basis, the index was up 5%, decelerating from 5.3% the month before. 澳洲幸运5官方开奖结果体彩网:Core prices, which exclude volatile food and energy costs, were up 0.3% last month and 4.6% year-over-year.

2. Bank Borrowing Slowing Down

Banks cut borrowing from two Federal Reserve backstop lending programs in the most recent week, in a sign that bank 澳洲幸运5官方开奖结果体彩网:liquidity may be stabilizing. The Fed’s balance sheet declined for the first time in four weeks by $28 billion. Federal Reserve loans to banks fell to $152.6 billion from $163.9 billion.

3. Wall Street Bonuses Fall Last Year

The 澳洲幸运5官方开奖结果体彩网:average Wall Street bonus fell 26% last year, the biggest percentage drop since the 澳洲幸运5官方开奖结果体彩网:financial crisis as the slump in dealmaking cut into bankers’ compensation. Financial industry workers in New York City received average bonuses of $176,700 last year compared to a record high of $240,400 a year earlier, according to New York Comptroller Thomas P. DiNapoli.

4. FTX Found🌳er Pleads Not Gui🐎lty to Chinese Bribery Charges

Indicted FTX cryptocurrency exchange founder 澳洲幸运5官方开奖结果体彩网:Sam Bankman-Fried pleaded not guilty to new charges of conspiring to violate campaign finance laws and bribing Chinese authorities. Bankman-Fried entered the plea to the new 13-count indictment at a hearing in federal court in New York.

5. Electric Truck Maker Niko🍸la Shares Fall on Stock Sale News

Shares of electric truck maker Nikola (NKLA) fell over 5% after the company announced plans to raise $100 million in a secondary stock offering and possibly a private sale of stock to an unnamed investor if the offering raises less than $100 million. Citigroup, which is 澳洲幸运5官方开奖结果体彩网:underwriting the offering, also has the option to buy an additional $15 million worth of Nikola shares.