- The major Wall Street indices are trading in positive territory on Friday.
- Defensive sectors rise after the opening bell.
- The S&P 500 Financials Index is declining after US inflation data.
The main US stock indices opened modestly higher after the latest batch of US macroeconomic data At time of writing, the Dow Jones Industrial Average was up 0.3% to 34,565, the S&P 500 was up 0.28% to 4,212 and the Nasdaq Composite was up 0.57% at 13,736.
Among the top 11 sectors in the S&P 500, the Healthcare Index is up 0.86% as the best performer ahead of the Utilities Index, which rose 0.75%. On the other hand, the financial index is losing 0.5%, pressured by the modest drop observed in the yield of the benchmark US Treasury bonds to 10 years.
Earlier in the day, US data revealed that the price index for basic personal consumption spending (PCE) rose to 3.1% annually from 1.9% in March. This reading was higher than the market expectation of 2.9%. Furthermore, the post showed that personal income decreased 13.1% while personal expenses increased 0.5%.
S&P 500 chart (daily)
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