US equity markets concluded Friday with gains, driven by encouraging inflation data and signaling potential shifts in monetary policy. The Dow Jones Industrial Average closed at 46,247 points, marking a 0.7% increase from the previous trading day.
The broader S&P 500 reached approximately 6,644 points, up 0.6%, while the Nasdaq 100 registered at around 24,503 points, showing a 0.4% rise.
Investor sentiment was favorably impacted by the latest release of the Federal Reserve’s preferred inflation measure, the Personal Consumption Expenditures (PCE) core inflation rate. The August figure remained consistent with July, holding steady at 2.9% year-over-year, excluding food and energy. While inflation persists, the absence of further upward movement has fueled speculation regarding potentially more cautious interest rate adjustments by the central bank.
The euro strengthened against the dollar, trading at $1.1705, equivalent to €0.8543 per dollar.
Precious metals also benefited from the overall market tone; gold was valued at $3,766 per fine ounce, a 0.5% increase, translating to approximately €103.43 per gram.
Crude oil prices saw an uptick, with a barrel of North Sea Brent crude costing $69.75 late Friday afternoon, representing a 33-cent, or 0.5% increase compared to the previous day’s close.