The Standard & Poor’s 500 index closed lower, while the Nasdaq index rose, during Thursday’s session, after US inflation data reinforced expectations that the US Federal Reserve will temporarily stop tightening monetary policy.
During the session, the Nasdaq reached its highest level in four weeks after a Commerce Department report showed that the personal consumption expenditures price index, which is the Fed’s preferred measure of inflation, rose 3.3 percent in July on an annual basis, in line with expectations.
Excluding the volatile food and energy components, the core PCE price index rose 4.2 percent in July, year on year, which is also in line with estimates, according to .
The Standard & Poor’s 500 index fell by 0.16 percent, to end the session at 4,507.54 points. The Nasdaq Composite Index rose 0.11 percent to 14,034.97 points, while the Dow Jones Industrial Average fell 0.48 percent to 34,721.16 points.