US stocks rose on Friday, with the S&P 500 advancing roughly 0.1% and the tech-heavy Nasdaq Composite gaining 0.3%. The Dow Jones Industrial Average, however, lost about 0.1%. This comes as the latest reading from the Fed's preferred inflation gauge showed inflation continues to cool, raising the likelihood of a rate cut in the months to come.
The Nasdaq Composite (^IXIC) showed a 0.3% increase on Friday, with the index standing at 17858.68. This rise came amidst a backdrop of cooling inflation, as indicated by the Fed's preferred inflation gauge. The index, heavily weighted towards information technology companies, has seen a degree of volatility in recent days, but has largely been trending upwards.
The S&P 500 advanced roughly 0.1% after Friday's trading, closing nearer to its record high. This comes as the latest reading from the Fed's preferred inflation gauge showed inflation continues to cool, raising the likelihood of a rate cut in the future.