U.S. stocks open higher after Fed’s preferred inflation gauge rose less than expected

U.S. stocks opened higher after fresh data showed inflation rose in February less than expected on a year-over-year basis. The Dow Jones Industrial Average DJIA, +0.52% was up 0.4% soon after the opening bell, while the S&P 500 SPX, +0.49% gained 0.3% and the Nasdaq Composite COMP, +0.58% advanced 0.2%, according to FactSet data, at last check.

The Bureau of Economic Analysis said Friday that the personal-consumption-expenditures price index increased 0.3% in February, with the year-over-year rate of inflation slowing to 5% from 5.3% in January. Core PCE data, the Fed’s preferred inflation gauge that excludes energy and food prices, rose 0.3% last month for a year-over year rate of 4.6%. That’s down from the 4.

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U.S. stocks open higher, with Dow rising more than 200 pointsU.S. stocks opened higher Wednesday, as investors await home sales data and testimony from the Federal Reserve’s Michael Barr on bank oversight. The Dow Jones Industrial Average was up more than 200 points, or 0.8%, soon after the opening bell: looks great.
Source: MarketWatch - 🏆 3. / 97 Read more »