<\/p>\n
U.S. stocks continued to show strength on Friday as the S&P 500 notched a new record high and the Dow opened higher following the latest inflation data.<\/p>\n
The S&P 500 rose 0.3% at the open, surpassing its previous all-time high, with the benchmark index hitting 6,156.80. Previously, on February 19, 2025, the S&P 500 touched an intraday high of 6,147.43.<\/p>\n
Meanwhile, the Dow Jones Industrial Average traded 300 points higher at open, while the Nasdaq Composite opened 0.5% up, looking to end the week on a positive note.<\/p>\n
This stock market rally comes amid investor focus on the release of new data showing core inflation rose slightly in May.<\/p>\n
The personal consumption expenditures price index, which is the Federal Reserve\u2019s primary inflation gauge, increased to a seasonally adjusted 0.1% for May. <\/p>\n
This puts the annual U.S. inflation rate at 2.3%. The core PCE inflation reading, which excludes food and energy, stood at 0.2% for the month and 2.7% year-over-year, slightly above economists\u2019 estimates of 0.1% and 2.6%, respectively.<\/p>\n
<\/p>\n
Despite this, stocks remain strong and are looking to extend their positive run. A thawing of tensions in the Middle East and recent announcements around tariffs have helped ease some market fears.<\/p>\n
In addition to the S&P 500, Bitcoin (BTC) is also eyeing a move to a new all-time high. The top cryptocurrency is hovering around $107,000 after a notable recovery this week.<\/p>\n
Investors will be watching for the Federal Reserve\u2019s next move, with growing optimism that the central bank may decide to lower interest rates at its July meeting.<\/p>\n
Also worth noting: the White House said on Thursday that President Donald Trump\u2019s July deadlines for tariff implementation in several countries are \u201cnot critical.\u201d<\/p>\n
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