Nasdaq jumps as Fed-favored inflation data comes in cool: Stock market news today

News Snapshot:

Stocks mainly rose on Friday, as Wall Street digested a fresh read on the Federal Reserve's preferred inflation gauge that could feed into interest rate expectations. The S&P 500 (^GSPC) gained about 0.3% in midday trading, while the Dow Jones Industrial Average (^DJI) lost grip of earlier gains to trade around the flatline. The tech-heavy Nasdaq Composite (^IXIC) led the advance, up around 0.8%, with all three benchmarks looking to build on Thursday's gains. Firmly in focus is Friday's release of the Personal Consumption Expenditures (PCE) index, the Fed's preferred inflation indicator. The August data showed that "core" PCE —...