TELETRADER News
3/31, 10:00 PM
(Source: TeleTrader)
US closes with strong gains after PCE report
Major indexes on Wall Street closed deep in the green on Friday as investors digested the latest personal spending report. The Bureau of Economic Analysis said that the PCE price index excluding food and energy, which the Fed considers as its main inflation indicator, rose by a smaller-than-expected 0.3%.
The Dow Jones jumped 1.26% or 414 points. Home Depot, up 3.42%, led the gains.
The Nasdaq 100 rallied 1.68%. The best performer was Rivian, whose stock surged 7.40%.
The S&P 500 climbed 1.44% with Align Technology soaring 7.05%.
The euro fell 0.56% against the dollar to sell for 1.08444 at 3:59 pm ET.