The S&P 500 and Nasdaq Composite saw a winning quarter, gaining 6% and 17%, respectively, since the start of the year.
US stocks rose higher on Friday, ending a tumultuous first quarter on a positive note as a key price gauge showed continued signs that inflation is cooling off.
The Personal Consumption Expenditures Index — the Fed’s preferred inflation measure — rose 0.3% in February from the prior month, lower than the expected 0.4%.
The S&P 500 has gained 6% and the tech-focused Nasdaq Composite is up 17% since the start of the year. Meanwhile, the Dow Jones Industrial Average was nearly flat over the quarter.
That comes after a rocky few months for markets. Investors began the year hopeful that inflation was easing enough for the Fed to cut rates soon.
