US stocks rose Friday and headed toward their first weekly advance since March after government data showed that inflation moderated last month.
The S&P 500 was on the verge of snapping a seven-week losing streak, while the Dow Jones Industrial Average was on the verge of its first weekly win after eight weeks of declines. The Commerce Department has a Personal Consumption Expenditures Index. The core PCE rose to 4.9% in April from 5.2% in March.
The US indexes stood at 9:30 a.m. on Friday.
The moderation in wage growth in recent month has helped to ease the pressure on inflation, at the margin, according to Ian Shepherdson.
The S&P 500 was on pace for a 4% weekly gain and the Nasdaq was on track for a 3% gain. The Federal Open Market Committee's March meeting minutes said policy makers agreed they should "expeditiously move the stance of monetary policy toward a neutral posture" and take time to assess the impact of swift.
The White House says that Russia is about to default on its bonds.
China is the largest oil trader in the world.
The price of oil fell. The price of West Texas Intermediate crude was down. The international benchmark for crude oil, known as Brent, fell 0.6% to $113.49.
The price of gold was $1,854.80 per ounce. The 10-year yield fell.
The price of the virtual currency rose 1.6% to $29,884.11.
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