The PCE inflation data is in line with estimates, which may support the Fed to move ahead with the projected 50 basis points rate cut in the year ahead. (Photo: Unsplash) Show Quick Read Summary is AI Generated. Newsroom Reviewed

S&P 500, Dow Jones Industrial Average and Nasdaq Composite edged higher in early trade on Friday, following a three-day decline, after the release of personal consumption expenditure price index.

Minutes into the trade, the Dow Jones rose 187.72 points or 0.41%, S&P 500 was up 0.40%, and Nasdaq gained 0.32%.

The Federal Reserve's preferred inflation measure, showed that the core inflation ran at 2.9%, while it was at 0.2% on a monthly basis. However, this excludes the food and energy costs.

This reading was in line with estimates, which suggests inflation

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