Investors are watching for a cooling in the Fed-favored PCE print to boost rate-cut hopes, as they assess Biden's faltering performance in the Trump debate.
US stocks rose on Friday as the latest reading from a closely watched inflation gauge extended a story of cooling inflation and as investors absorbed the fallout of the Biden-Trump debate. The S&P 500 advanced roughly 0.1% after the benchmark closed a step nearer to its record high. The tech-heavy Nasdaq Composite rose 0.3%, while the Dow Jones Industrial Average index, which strips out the cost of food and energy and is closely watched by the Fed, rose 0.
Meanwhile, with November's US election high on the list of risks, investors took note of President Joe Biden's weak showing in his first debate against presumptive Republican nominee Donald Trump. The former president's promised tax cuts and trade clampdown are seen as likely to boost stocks. Shares in Trump Media & Technology Group jumped in morning trading.
Closely Watched Inflation Gauge Inflation Gauge President Joe Biden
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