U.S. Stocks Rise as PCE Inflation Data Comes in Below Expectations

U.S. stock markets saw early gains as investors reacted to encouraging inflation and employment reports. The personal consumption expenditures (PCE) price index increased a seasonally adjusted 0.3% for the month, with the 12-month gain at 3.4%, which was below economists' expectations of 3.7%. Excluding food and energy, core PCE increased 0.2%, resulting in an annual core level of 3%, also below the forecasted 3.3%.