Stocks open higher after data shows inflation slowing


U.S. stocks opened higher Friday after data showed the Federal Reserve’s preferred measure of inflation slowed in April. The Dow Jones Industrial Average DJIA, +1.76% was up 50 points, or 0.1%, while the S&P 500 SPX, +2.47% rose 0.8% and the Nasdaq Composite advanced 1.4%. The core personal consumption index showed a year-over-year rise of 4.9% in April, down from 5.2% in March. All three major indexes were on track for weekly gains. The Dow has fallen for eight straight weeks, its longest such stretch since 1932, while the S&P 500 and Nasdaq Composite have been down for seven weeks in a row.

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