U.S. stocks strive for five-day winning streak as PCE inflation data looms

How are stock-index futures trading On Wednesday, the Dow Jones Industrial Average DJIA rose 38 points, or 0.11%, to 34890, the S&P 500 SPX increased 17 points, or 0.38%, to 4515, and the Nasdaq Composite COMP gained 76 points, or 0.54%, to 14019.

The S&P 500’s SPX rally to a four-week high has coincided with benchmark Treasury yields BX:TMUBMUSD10Y pulling back from multi-year peaks as traders bet that some weaker jobs data of late will allow the Federal Reserve to stop raising borrowing costs. Analysts forecast the core PCE to have risen 0.2% month-on-month, the same as in June, and for the annual rate to be 4.2%, against June’s 4.1%.

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