PEGY - US Stocks Higher Following PCE Inflation Data; Nasdaq Jumps Over 200 Points | Benzinga
U.S. stocks traded higher this morning, with the Nasdaq Composite gaining by more than 200 points on Friday.
Following the market opening Friday, the Dow traded up 0.20% to 38,162.13 while the NASDAQ rose 1.36% to 15,823.47. The S&P 500 also fell, dropping, 0.73% to 5,085.46.
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Leading and Lagging Sectors
Communication services shares rose by 4.9% on Friday.
In trading on Friday, energy shares dipped by 1.2%.
Top Headline
The Federal Reserve's preferred measure of inflation – the Personal Consumption Expenditure (PCE) price index – rose more than expected in March. The headline PCE price index rose from 2.5% in February 2024 to 2.7% year-on-year in March, beating forecasts of a 2.6% increase, the Bureau of Economic Analysis reported Friday.
Equities Trading UP
- Biodexa Pharmaceuticals Plc (NASDAQ:BDRX) shares shot up 86% to $1.33 after the company entered an exclusive license agreement with Rapamycin Holdings for the rights to eRapa.
- Shares of Focus Universal Inc. (NASDAQ: