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Stock Market News Today: Dow and S&P 500 finish 3rd straight winning week

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Dow and S&P 500 finish 3rd straight winning week as more data shows inflation is cooling

US stocks rose on Friday as investors priced in more good inflation news, leaving the indexes with their third-straight week of gains.

For the week, the Dow Jones Industrial Average added 0.6%, the S&P 500 gained 1%, and the Nasdaq rose 2%. The personal consumption expenditures price index, which is the Federal Reserve's preferred measure of inflation, increased 0.2% month over month in June, in-line with economists' estimates. Meanwhile, core PCE rose 4.1% year over year, slightly below the anticipated 4.2% increase.

The latest data is a promising sign that inflation is continuing to slow in the economy, which is revving up bets that the Fed could pause interest rate hikes in September. Markets are pricing in an 80% chance interest rates are kept at the 5.25%-5.5% range at the Fed's next policy meeting, per the

 

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