Tonight's PCE and core PCE data both fell short of expectations, especially the core PCE month-on-month rate of 0.1%, which is far below the previous value of 0.3%, alleviating some market concerns about a persistent rebound in inflation. It reminds me of the ISM non-manufacturing data on August 5th at 8:30 PM, when the PMI data exceeded both the previous value and expectations, pulling the market back from a tumultuous state.