US STOCKS-Wall Street shrugs off inflation jump to move higher ...Middle East

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US STOCKS-Wall Street shrugs off inflation jump to move higher
source : Devdiscourse ( Middle East ) () 44
U.S. stocks climbed on Friday as investors brushed off a stronger-than-expected inflation reading, putting both the Dow and S&P indexes on track to post their first weekly gain in the past three weeks. Consumer prices as measured by the personal consumption expenditures (PCE) price index, excluding the volatile food and energy components, rose 0.7% in April, topping analysts' 0.6% estimate and after a 0.4% increase in March. PCE is the Federal Reserve's preferred measure of inflation.

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