Investing.com — U.S. stocks edged higher Friday, ending a positive month on the up after key inflation data pointed to a cooling of inflationary pressures.
At 09:35 ET (13:35 GMT), rose 34 points, or 0.1%, traded 8 points, or 0.2% higher, and climbed 10 points, or 0.42%.
The main indices are on course for robust gains in the first six months of 2024, which officially concludes with Friday’s closing. The is on track for gains on 15% year to date, the is 19% higher, while the only gained 4%.
PCE data suggests cooling inflation
Inflation in the U.S. decelerated as expected in May compared to the prior month, according the Federal Reserve’s preferred measure of price gains, potentially providing more impetus for the Fed to roll out interest rate cuts in 2024.
The headline personal consumption expenditures price index was flat on a basis, retreating from a rise of 0.3% in…
