Stocks rise after key January inflation reading meets forecasts

Stocks saw incremental gains as investors absorbed a key inflation metric that aligned with economist expectations.

The Dow Jones Industrial Average rose by 38 points, equivalent to a 0.1% increase, while the S&P 500 recorded a 0.5% climb. The Nasdaq Composite showed a more significant advance of 0.9%.

Data revealed that the Federal Reserve’s favored measure of inflation in January remained persistently above the central bank’s target, though it did not surpass Wall Street forecasts.

Additionally, there were indications that consumer spending remained strong, CNBC reported.

READ MORE: https://www.cnbc.com/2024/02/28/stock-market-today-live-updates.html

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