Stock market today: Indexes gain as investors assess new inflation data and latest earnings [Yahoo! Finance]
Alphabet Inc. - Class C Capital Stock (GOOG)
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Source: Yahoo! Finance
Investors cheered earnings from Microsoft and Alphabet. The Google parent announced its first-ever dividend. US stocks climbed on Friday, with investors digesting new inflation data and cheering earnings from mega-cap tech titans Microsoft and Alphabet. Personal consumption expenditures data showed prices rose more than expected last month. The Federal Reserve's preferred measure of inflation showed an uptick of 2.8% versus estimates of 2.7%. The market seemed little fazed by the report, with the data mostly in line with previous prints showing inflation hovering above the central bank's 2% target. "Friday's PCE print keeps rate cuts on the table for 2024, but we expect any rate cuts to come towards the end of the year, which will allow the Fed to analyze a few more inflation reports to ensure that the re-acceleration of inflation over the past few months was indeed a temporary uptick and not something more sustainable," Clark Bellin, president and CIO of Bellwether Wealth, s
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