The stock market saw gains on Friday following the release of key inflation data by the Federal Reserve. While most major indexes like the Dow Jones Industrial Average and the S&P 500 rose, Dell Technologies faced a significant decline due to a disappointing outlook.
The morning saw a 0.2% rise in the Dow Jones Industrial Average and the S&P 500, with the tech-focused Nasdaq composite also increasing by 0.2%. Additionally, oil prices climbed as the 10-year Treasury yield slipped to 4.51%.
The Personal Consumption Expenditures price index, the Fed’s preferred measure of inflation, rose 0.3% in April, with an annual increase of 2.7%. This closely matched market estimates. Dell Technologies experienced a significant drop of 16.5% due to a disappointing outlook, while other big movers included Costco, Gap, MongoDB, NetApp, SentinelOne, and Ulta Beauty.
Investors are closely monitoring market conditions amidst changing dynamics. Stocks like Microsoft, Apple, and Merck are among the companies to watch. It is crucial to stay abreast of market trends and make informed investment decisions to navigate the volatile market effectively.
