Stock market recap: Wall Street extends gains as investors await Fed inflation gauge
U.S. markets advanced on Friday, extending a week of record-breaking rallies as investors looked ahead to key inflation data that could shape the Federal Reserve’s policy outlook.
The Personal Consumption Expenditures (PCE) index, the Fed’s preferred inflation gauge, is due Friday morning and is expected to influence expectations for potential interest-rate cuts later this year.
Global indexes
• S&P 500: 6,501.86, +0.32%
• NASDAQ: 21,705.158, +0.53%
• DJIA: 45,636.90, +0.16%
• FTSE: 9,189.62, -0.30%
• NIKKEI: 42,718.47, -0.26%
• HSI: 25,077.62, +0.32%
• SHANGHAI: 3,857.927, +0.37%
U.S. markets
Wall Street’s latest advance builds on earlier gains this week, with equities buoyed by optimism around corporate earnings and steady economic data.
Investors remain cautious, however, as the upcoming PCE report could determine whether inflation is easing fast enough to justify interest-rate cuts in September. The resilience of the S&P 500 and Nasdaq underscores ongoing confidence in U.S. economic momentum despite policy uncertainty.
European markets
European shares ended lower ahead of the U.S. inflation reading. The STOXX 600 fell 0.57% to 550.54, dragged down by losses in major benchmarks.
Denmark cut its 2025 growth forecast to 1.4% from 3%, citing weaker pharmaceutical exports from Novo Nordisk. The drugmaker, known for its popular weight-loss products, has faced declining U.S. sales due to tariffs and rising competition.
Asian markets
Asian markets posted mixed results. Japan’s Nikkei 225 fell 0.26%, with Tokyo’s core CPI for August up 2.5%, easing from July’s 2.9% but still above the Bank of Japan’s 2% target. Japan’s unemployment rate declined to 2.3%, signaling labor market strength.
South Korea’s Kospi dropped 0.32%, while Hong Kong’s Hang Seng gained 0.45% to 25,110.70 and China’s CSI 300 rose 0.74% to 4,496.76 on optimism about mainland tech stocks. Australia’s S&P/ASX 200 closed flat at 8,973.1.
Summary conclusions
Wall Street’s rise underscores investor confidence heading into a pivotal inflation report. With the S&P 500 and Nasdaq notching fresh gains, markets remain upbeat but cautious, balancing corporate resilience against uncertainty around monetary policy.
The release of the PCE index will be a decisive moment, potentially setting the stage for the Fed’s next move on rates. Until then, global markets are likely to remain sensitive, trading on both optimism and restraint.
Read also: Nvidia stock falls 1.1% on mixed post-earnings reaction.
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