Stocks rally to end strong week as inflation keeps cooling: Stock market news today

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Stocks rebounded on Friday, rallying after the Federal Reserve's preferred inflation measure showed a continued cooling in pricing pressures in the US economy. The Personal Consumption Expenditures (PCE) Price Index out Friday morning showed that on a "core" basis — which strips out food and energy — prices rose 4.1% over the prior year in June, the least since September 2021. The data followed CPI numbers earlier this month that showed core inflation rose 4.8% over the prior year. On a "headline" basis — which includes food and energy — both PCE and CPI showed prices rose 3% over last year. Earlier in the morning, a surprise Bank of Japan rate shift rattled markets. The Dow Jones Industrial Average (^DJI) was up 0.5%, or more than 150 points. The S&P 500 (^GSPC) added 1%, while the tech-heavy Nasdaq Composite (^IXIC) climbed nearly 2% after all the major gauges closed in the red on Thursday. All three averages closed in positive territory over the week. Click here for the latest stock market news and in-depth analysis, including events that move stocks Read the latest financial and business news from Yahoo Finance