US equity markets concluded Friday with gains, driven by encouraging inflation data and buoying investor sentiment. The Dow Jones Industrial Average registered at 46,247 points at the close of trading in New York, representing a 0.7% increase compared to the previous session.
The broader S&P 500 reached approximately 6,644 points, up 0.6%, while the Nasdaq 100 was valued at around 24,503 points, showing a 0.4% increase.
Positive market reaction centered around the Federal Reserve’s preferred inflation measure, the Personal Consumption Expenditures (PCE) core inflation rate. The August figure remained unchanged from the previous month at 2.9% year-over-year, signaling persistent, though stable, inflation. This development has fuelled speculation regarding potential future adjustments to the Federal Reserve’s interest rate policy.
The Euro strengthened against the US dollar, trading at $1.1705, with the dollar fetching €0.8543.
Precious metals also saw a positive trend, with the price of gold reaching $3,766 per fine ounce (+0.5%), equivalent to €103.43 per gram.
Crude oil prices experienced an upward trajectory, with a barrel of North Sea Brent crude costing $69.75, a 33-cent or 0.5% increase from the previous day’s closing price.
