Stock market today: US stocks rise as Fed-favored PCE inflation print hits the mark
Published On Aug 30, 2024, 9:40 AM
US stocks finished the last trading week of August positively, with all three major indexes (Dow Jones, S&P 500, and Nasdaq Composite) showing gains. This rebound comes as investors reacted favorably to the core Personal Consumption Expenditures (PCE) inflation figures, which met expectations and bolster hopes for upcoming interest rate cuts by the Federal Reserve in September. Despite some volatility earlier in the month, sentiment has shifted to optimism about a policy pivot from the Fed. The strong performance was led particularly by the S&P 500, which saw a 1% increase.