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The Dow Jones Industrial Average rose 0.1 per cent to close at 39,164.06. The S&P 500 also edged up 0.1 per cent, finishing at 5,482.87, while the Nasdaq Composite Index gained 0.3 per cent to end at 17,858.68 read more
 "Wall Street indices see narrow gains, investors eye inflation numbers")
US stock indices made narrow gains ahead of inflation data expected on Friday. Reuters
Stocks in the United States ended a volatile session slightly higher on Thursday as investors awaited key inflation data that could shape future interest rate decisions.
The Dow Jones Industrial Average rose 0.1 per cent to close at 39,164.06. The S&P 500 also edged up 0.1 per cent, finishing at 5,482.87, while the Nasdaq Composite Index gained 0.3 per cent to end at 17,858.68.
Market movers
Megacap stocks, including Alphabet and Meta Platforms, strengthened as US Treasury yields declined, with Alphabet up 0.83 per cent and Meta Platforms increasing by 1.25 per cent. Amazon advanced 2.19 per cent, surpassing a $2 trillion market value for the first time on Wednesday.
Chipmaker Micron fell 7.11 per cent after issuing a fourth-quarter revenue forecast that met expectations but fell short of investor hopes for a stronger outlook amid the artificial intelligence boom. Nvidia continued its recent volatility, declining 1.90 per cent.
Levi Strauss shares plummeted 15.4 per cent after the company reported second-quarter revenue that missed expectations.
Eye on inflation numbers
Investors are keenly awaiting the release of the Personal Consumption Expenditures (PCE) price index on Friday. This follows a slight upward revision in first-quarter GDP growth to 1.4 per cent from the previous estimate of 1.3 per cent, indicating the slowest quarterly growth since spring 2022.
“The market is being quite tentative about making an assessment before the actual PCE data is released,” said Sam Stovall, chief investment strategist at CFRA Research.
Apart from Friday’s data, investors are also looking ahead to Thursday night’s presidential debate featuring President Joe Biden and predecessor Donald Trump.
Bond market dynamics
In the bond market, Treasury yields fell. The yield on the 10-year Treasury note, which influences interest rates on mortgages and other consumer loans, dropped to 4.28 per cent from 4.33 per cent on Wednesday. The yield on the two-year Treasury declined to 4.71 per cent from 4.75 per cent.
With inputs from agencies
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English (US) ·