Wall Street’s main indexes rose to a strong start on Friday (28/6) as US personal consumer spending (PCE) data, a gauge closely watched by the Federal Reserve, shows inflation easing according to analysts’ expectations, while raising hopes for. early rate cuts this year.
In this context, Mr Dow Jones gained 0.41% to 39,326.34, the S&P 500 gained 0.29% to 5,498.78 and the Nasdaq rose 0.19% to 17,892.73.
The technology index led the first half, rising about 19% as artificial intelligence excited investors. The S&P 500 jumped more than 15%, while the Dow Jones trailed with gains of 4.4%.
Additionally, all three major indexes gained ground in June. Nasdaq rally more than 6%. The S&P 500 and Dow Jones rose more than 4% and 1%, respectively. For the week, the Nasdaq rose 1%. The S&P 500 rose about 0.6% and the Dow Jones gained 0.5%.
It was noted that inflation slowed in May to the lowest annual rate in more than three years. Core PCE, which excludes more volatile food and energy prices, rose just 0.1% last month and 2.6% from last year. Both prices were in line with Dow Jones consensus estimates.