U.S. stocks opened higher on Friday as investors digested fresh data showing core inflation rose less than expected in August. The Dow Jones Industrial Average DJIA, +0.47% was up 0.5% soon after the opening bell, while the S&P 500 SPX, +0.64% gained 0.7% and the Nasdaq Composite COMP, +0.98% advanced 1%, according to FactSet data, at last check.
Inflation, as measured by the personal-consumption-expenditures price index, rose 0.4% in August, according to a report Friday from the Bureau of Economic Analysis. Core PCE, which excludes food and energy prices, rose 0.1%. That was softer than the forecast from economists polled by The Wall Street Journal for a 0.2% rise in core inflation in August. U.S. stocks are facing monthly losses, with the S&P 500 on track to fall around 4% in September, according to FactSet data, at last check.
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