S&P 500 Inches Up as Inflation Shows Signs of Cooling

The S&P 500 closed the week with a slight gain, reflecting optimism from the latest inflation figures. The Personal Consumption Expenditures (PCE) index, a key indicator for the Federal Reserve, revealed a yearly inflation rate of 2.5%, meeting both previous month’s levels and economists’ expectations. This data suggests a cooling inflation environment, potentially leading to a moderation in interest rate hikes. This development boosted investor sentiment, propelling the S&P 500 upwards, although gains remained modest.