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Dow Surges 550 Points; Headline PCE Price Index Falls To 2.5%
U.S. stocks traded higher this morning, with the Dow Jones index gaining over 550 points on Friday.
The Dow traded up 1.40% to 40,494.80 while the NASDAQ rose 0.60% to 17,285.07. The S&P 500 also rose, gaining, 0.80% to 5,442.35.
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Leading and Lagging SectorsIndustrials shares jumped by 1.5% on Wednesday.
In trading on Wednesday, communication services shares rose by just 0.1%.
Top Headline
The headline Personal Consumption Expenditure (PCE) price index fell to 2.5% year-on-year in June, as expected.
The core component remained steady at 2.6%, countering expectations of a drop to 2.5%. The headline index's decline to 2.5% marks the lowest point since February 2021, a level also seen in January and February 2024.
Equities Trading UP
Windtree Therapeutics, Inc. (NASDAQ:WINT) shares shot up 136% to $7.78 after the company filed a request for the withdrawal of its registration statement on a Form S-1.
Shares of BurgerFi ...