Market Snapshot: Stocks climb for 3rd straight day after Fed’s preferred inflation gauge eases to 2-year low

by | Sep 29, 2023 | Stock Market

U.S. stocks traded higher on Friday, on track to rise for a third straight day after an inflation gauge favored by the Federal Reserve showed price pressures easing to their slowest pace in two years, a welcome sign for the market at the close of what has been a difficult September. What’s happening
The Dow Jones Industrial Average
rose 54 points, or 0.2%, to 33,720.

The S&P 500
gained 22 points, or 0.5%, to 4,322.

The Nasdaq Composite
rose by 138 points, or 1.1%, to 13,340.

On Thursday, the Dow Jones Industrial Average rose 116 points, or 0.35%, to 33,666, the S&P 500 increased 25 points, or 0.59%, to 4,300, and the Nasdaq Composite gained 108 points, or 0.83%, to 13,201.

What’s driving markets U.S. stocks shot higher at the open while Treasury yields retreated after a reading on core inflation from the PCE price index rose a scant 0.1% in August, a …

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