Stock market today: US indexes rally after cool inflation data

US indexes finished mostly higher on Friday after a key inflation metric left investors encouraged.

The S&P 500 and Dow Jones Industrial Average rose, while the Nasdaq Composite was flat. Nvidia, Microsoft, and Amazon all fell.

Friday’s also offered investors inflationary relief, as the Personal Consumption Expenditures report came in line with expectations. As projected, core PCE rose 0.2% in April. On an annualized basis, it increased 2.8%, slightly above consensus of a 2.7% gain.

The equity market wants to see a slowdown in economic growth and today’s PCE data provided a soft-landing report,” David Donabedian said, chief investment officer of CIBC Private Wealth US.