As a gauge of inflation closely watched by the Federal Reserve came in at its lowest level in nearly two years, stocks increased on Friday, with the Dow Jones Industrial average and S&P 500 on track to finish their third winning week in a row.
A 0.5% increase, or 177 points, was seen in the Dow Jones Industrial Average. Adding 0.7% was the S&P 500. Gaining 1.07% was the Nasdaq Composite.
The personal consumption expenditures price index’s June data showed no change from the previous month’s figures. The indicator revealed that PCE increased by 0.2% from one month to the next, which was in line with the 0.2% increase predicted by analysts surveyed by Dow Jones. In contrast to expectations of a 4.2% increase, core PCE increased by 4.1% from the prior-year period.