Advertisment
Stocks climbed Friday as investors looked to end a volatile month of trading on a high note, while assessing crucial inflation data closely watched by the Federal Reserve.
The Dow Jones Industrials changed course and lost 90.24 points to pause for lunch Friday at 41,244.81.
The S&P 500 inched up 7.4 points to 5,599.36.
The NASDAQ gathered 51.47 points to 17,567.90.
As August’s trading winds down, the S&P 500 is on pace for a nearly 1.7% gain during the month, while the Dow is on track to add 1.3%. The NASDAQ Composite has lagged and was last unchanged on the month. The S&P 500 was on pace for its fourth straight winning month.
The personal consumption expenditures price index, the Federal Reserve’s preferred inflation gauge, rose 0.2% on a monthly basis and 2.5% from a year ago, coming in line with estimates from economists polled by Dow Jones. Excluding food and energy, it also rose 0.2%.
Prices for the 10-year Treasury gained slightly, lowering yields to 3.87% from Thursday’s 3.88%. Treasury prices and yields move in opposite directions.
Oil prices skidded two dollars to $73.91 U.S. a barrel.
Gold prices settled $23.00 to $2,537.30
