: U.S. stocks open higher after Fed’s preferred inflation gauge rose less than expected


U.S. stocks opened higher after fresh data showed inflation rose in February less than expected on a year-over-year basis. The Dow Jones Industrial Average DJIA, +1.26% was up 0.4% soon after the opening bell, while the S&P 500 SPX, +1.44% gained 0.3% and the Nasdaq Composite COMP, +1.74% advanced 0.2%, according to FactSet data, at last check. The Bureau of Economic Analysis said Friday that the personal-consumption-expenditures price index increased 0.3% in February, with the year-over-year rate of inflation slowing to 5% from 5.3% in January. Core PCE data, the Fed’s preferred inflation gauge that excludes energy and food prices, rose 0.3% last month for a year-over year rate of 4.6%. That’s down from the 4.7% rise seen over the 12 months through January and slightly lower than forecasts from economists polled by the Wall Street Journal.

This article was originally published by Marketwatch.com. Read the original article here.

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