Stocks on the American market rose on Friday, concluding a volatile week and a turbulent month for key indexes. Consumer spending in the American economic report decreased by 0.2%. The core personal consumption expenditures price index, excluding food and energy prices, which is the preferred measure of inflation for the Federal Reserve, fell to 2.6% on a year-over-year basis, which corresponds to the forecast.
"Reading the personal consumption expenditures index for January results in a decrease in certain risks following the last data that called into question the resilience of the economy and the growth of inflation," the report notes. The consumption expenditures indicator is also aimed at excluding the costs of food and energy and is considered important for analyzing consumer activity.
Stocks on Friday rose after the latest consumer spending data fell within the expected range. The Dow Jones Industrial Average rose by 601.41 points or 1.39%, while the S&P 500 index declined by 1% for the week and by 1.4% in February.
The S&P 500 increased by 0.44%, while the Nasdaq rose by 0.48%. The Nasdaq Composite added 1.63%. The S&P 500 added 1.59%. The Dow Jones gained 0.46%.
The trading session on Friday brought a short-term decrease following the meeting between President Donald Trump and President of Ukraine Volodymyr Zelensky in the Oval Office, which triggered concerns regarding escalating geopolitical risks. February became the worst month for the heavy-duty technology index since April 2024.
