4:10pm: US stocks end down week on a positive note
Major US stock indices all finished the day higher as the Federal Reserve's preferred inflation measure met market expectations.
The Dow rose 0.7%, while the S&P 500 was 0.6% higher, and the Nasdaq turned up 0.4%
August's reading of the ‘core’ Personal Consumption Expenditures (PCE) index rose 2.9% year-over-year and 0.2% month-over-month in August, in line with expectations.
Notable stock movers included shares of Boeing, which gained nearly 4% after Turkish Airlines ordered 75 Boeing 787 aircraft and has negotiated buying 150 737 MAX planes.
Intel Corp shares also continued to move higher Friday, up more than 4% after the media reports that the chipmaker is seeking an investment from companies such as Apple and Taiwan Semiconductor.
12:30pm: Nasdaq swings into positive territory
Major US stock indices all gained ground midday as the Federal Reserve's preferred inflation measure met market expectations.
The Dow rose 0.6%, while the S&P 500 was 0.4% higher, and the Nasdaq turned up 0.1%.
August's reading of the ‘core’ Personal Consumption Expenditures (PCE) index rose 2.9% year-over-year and 0.2% month-over-month in August, in line with expectations.
“Following a three-day pullback in the broader market, this is good enough to pull buyers off the sidelines,” TradeStation global head of market strategy David Russell told CNBC.
Intel Corp shares continued to move higher Friday, up nearly 6% after the media reports that the chipmaker is seeking an investment from companies such as Apple and Taiwan Semiconductor.
10:30am: US stocks look to end week on high note
Major US stock indices edged up in early trading as the Federal Reserve's preferred inflation measure met market expectations.
The Dow gained 0.5%, while the S&P 500 was 0.4% higher, and the Nasdaq was essentially flat.
August's reading of the ‘core’ Personal Consumption Expenditures (PCE) index rose 2.9% year-over-year and 0.2% month-over-month in August, in line with expectations.
Intel Corp shares continued to move higher Friday, up nearly 4% after the media reports that the chipmaker is seeking an investment from companies such as Apple and Taiwan Semiconductor.
8am: Wall Street set for mixed start
US stocks are set for a mixed open, with the Dow Jones expected to rise while the S&P 500 and the Nasdaq are likely to open flat.
Dow futures are trading 0.1% firmer an hour and a half before the market opens, with those for the S&P a touch higher and Nasdaq futures a touch lower.
Stocks fell for a third day on Thursday as better-than-expected GDP data and jobless claims had traders questioning the timing of future interest rate reductions.
The Nasdaq and the S&P 500 both fell 0.5%, while the Dow was down 0.4%.
“US investors have run into a brick wall over recent days, with the validity of the drives to fresh record highs having been brought into question," commented Richard Hunter, head of markets at interactive investor.
"There have undoubtedly been signs of weakness in the labour market which have led to expectations of further interest rate cuts being ratcheted up," Hunter added. "However, the latest jobless claims number was solid in that the decline was more than expected. In addition, GDP growth was revised up to 3.8% from a previous 3.3% for the second quarter, with consumer spending and business investment providing a strong base."
European stocks are trading higher this morning, despite a raft of new tariffs laid out by President Donald Trump that take effect next week, targeting pharmaceuticals, heavy trucks, furniture and kitchen cabinets.
In London, the FTSE 100 is up 0.5%, while Frankfurt's DAX is 0.4% firmer and the Paris CAC 50 has gained 0.6%.
"Long story short: stocks were down yesterday as US yields jumped on better eco data, new US tariffs are being digested this morning with relative ease," commented Saxo Markets' Neil Wilson.
"The tariff news ought to add to the bearish narrative we’ve seen take hold in equity markets this week, but so far, European equity markets are rising and US futures are a bit higher," Wilson added. "Maybe weaker euro/sterling, maybe just tariff noise can be ignored?"
Asian markets have felt the pressure of the new tariffs, though. Pharmaceutical manufacturers dragged Tokyo's Nikkei 0.9% lower, while Hong Kong's Hang Seng shed 1.4%. In Shanghai, the SSE Composite closed 0.7% weaker and the BSE SENSEX in Mumbai ended 0.9% lower. Sydney's ASX 200 closed 0.2% higher.