As investors processed new data on the personal consumption expenditures price index, which showed declining inflation, the S&P 500 index moved higher on Friday. In addition, they are counting down to the year’s end after an impressive first half.
A 0.2% increase was seen in the broad market index, but the Nasdaq Composite was flirting with flatness. 0.5%, or 230 points, were added to the Dow Jones Industrial Average.
The Commerce Department released its May inflation data on Friday, showing that it dropped to its lowest annual rate in almost three years.
Just 0.1% increased last month and 2.6% over the previous year for Core PCE, which takes out the more erratic food and energy costs.
Source (CNBC)
