News Formal

U.S. stocks higher and on track to finish first half at 14-month highs after encouraging inflation report

  • 📰 MarketWatch
  • ⏱ Reading Time:
  • 22 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 12%
  • Publisher: 97%

United States News News

United States United States Latest News,United States United States Headlines

U.S. stock-market indexes positioned to finish Friday at 14-month highs

U.S. stocks were higher on Friday and on track to finish the first half at 14-month highs with data showing inflation falling to a two year low, fueling hopes that the Federal Reserve might be able to back off its inflation battle more quickly than Chair Jerome Powell has suggested.

The personal consumption expenditure index showed inflation falling to 3.8% in May on a 12-month basis, the slowest increase since April 2021. May consumer price index data released earlier this month showed the headline rate falling to 4%, also the lowest reading in roughly two years. Data released on Thursday showed U.S. GDP expanded by 2% during the first quarter, much stronger than the previous 1.3% reading.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 3. in US

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

5 things to know before the stock market opens FridayHere are the most important news items that investors need to start their trading day.
Source: CNBC - 🏆 12. / 72 Read more »