Stocks rose on Friday as traders sought to cap out a wild month of trading on a positive note while evaluating vital inflation data that the Federal Reserve was keenly monitoring.
The S&P 500 experienced a 0.6% increase in trading. The 0.1% increase in the Dow Jones Industrial Average was 57 points. The Nasdaq Composite experienced a 0.9% increase.
The personal consumption expenditures price index—the favoured inflation measure of the Federal Reserve—rose 2.5% from a year ago and by 0.2% on a monthly basis. It increased by 0.2% when food and energy were taken out.
The Fed is closely monitoring this indicator, and in September, officials’ decision about interest rates may still be influenced by it.
Source (CNBC)
