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Stock market today: Stocks edge higher as closely watched inflation measure slows

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Personal Consumption Expenditures Price Index News

Inflation Gauge,Nasdaq Composite,Inflation Report

Investors are waited for the release of the Fed's preferred inflation data, seen as a potential turning point for a market gripped by rate-cut jitters.

US stocks opened in the green Friday as investors seemed to exhale after a key inflation gauge slowed, while the overall reading on price increases largely met Wall Street's expectations. The blue-chip Dow Jones Industrial Average rose 0.2%, coming off two days of sharp losses. The S&P 500 gained about 0.1%, while the tech-heavy Nasdaq Composite also increased about 0.1.%. The Personal Consumption Expenditures price index update was seen as pivotal for stocks headed for a losing week.

Still, the index showed that price increases remained sticky last month. Bond yields fell after the inflation report, with the benchmark 10-year Treasury slipping close to the key 4.5% level. Read more: How does the labor market affect inflation? In individual movers, shares of Trump Media & Technology Group fell after former President Donald Trump was convicted on 34 criminal counts related to falsifying business records.

 

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