Today’s stock market: real-time updates

Stocks struggled on Friday as investors sought to end a turbulent month on a high while assessing key inflation data that the Federal Reserve is closely watching.

this S&P 500 The trading price rose by 0.1%, while Nasdaq Composite Index It also fell 0.1%. Dow Jones Industrial Average Down 178 points, or 0.4%.

The personal consumption expenditures price index is the Federal Reserve’s preferred inflation indicator. Up 0.2% month-on-month The index rose 2.5% from a year ago, in line with expectations of economists surveyed by Dow Jones. Excluding food and energy, the index also rose 0.2%.

The Fed watches the indicator closely and it could still influence policymakers’ interest rate decision in September.

“The stock market is acting very optimistically,” Michael Green, chief strategist at Simplify Asset Management, said of Friday’s gains in the three major indexes. “The evidence is growing for a soft landing and the evidence is growing that the Fed is going to cut rates aggressively.”

With the end of August trading, S&P 500 It is expected to grow nearly 1.7% this month, while Dow It is expected to increase by 1.3%. Nasdaq Composite Index The S&P 500 is on track for its fourth straight month of gains.

In early August, all major stock indexes suffered sharp declines, with the S&P 500 falling 7.3% before recovering. The Dow Jones and Nasdaq fell 5.4% and 10.7% respectively this month, hitting new lows.