Traders work on the floor of the New York Stock Exchange.
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S&P 500 Index futures were little changed on Friday as stocks head into a strong week. Traders also digested new data showing further progress in lowering inflation.
S&P500 futures Although it increased by 0.1%, Nasdaq 100 futures It increased by 0.1%. Futures linked to the Dow Jones Industrial Average Increased by 81 points (0.1%).
Three major indexes rose this week, with the S&P 500 up nearly 0.8% and 30 stocks rising. Dow Jones Industrial Average It is trending at a pace of increase of 0.3%. of Nasdaq Composite It is on track to rise about 1.4% since the beginning of the week.
Traders also received encouraging inflation data that could give the central bank the confidence to make further rate cuts. The personal consumption expenditure price index rose 0.1% in August, in line with economists’ forecasts compiled by Dow Jones. PCE increased by 2.2% on an annualized basis, lower than the expected 2.3%.
The so-called PCE is the Federal Reserve’s preferred inflation measure, and policymakers and Wall Street alike are hoping for numbers that show a cooling trend.
Wall Street is emerging from a winning session as a series of economic indicators convinced investors of the strength of the US economy. Initial jobless claims fell more than expected, indicating a strong labor market, while gross domestic product (GDP) ended at 3% in the second quarter.
“The market is satisfied that the Fed is taking meaningful steps to realign policy,” said Jeffrey Roach, chief economist at LPL Financial.