S&P 500 Index opens little changed after US inflation report

Wall Street's main indexes trade near Thursday's closing level.
Consumer Discretionary Index gains nearly 1% after the opening bell.
PCE Price Index data for May offered no major surprises.

Eren Sengezer FXStreet

Major equity indexes in the US started the last trading day of the week near Thursday's closing levels as investors assess the latest data releases from the US. As of writing, the S&P 500 was down 0.05% on the day at 4,264, the Dow Jones Industrial Average was up 0.15% at 34,247 and the Nasdaq Composite was gaining 0.1% at 14,380.

The US Bureau of Economic Analysis reported on Friday that the Core Personal Consumption Expenditures (PCE) Price Index rose to 3.4% on a yearly basis in May as expected. Furthermore, the underlying details of the publication revealed that Personal Spending stayed unchanged on a monthly basis while Personal Income declined by 2%.

Among the 11 major S&P 500 sectors, the Consumer Discretionary Index is up 0.9% after the opening bell. On the other hand, the Real Estate Index stays in the negative territory.

S&P 500 chart (daily)

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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