Dow gains over 100 points as Fed’s preferred inflation measure hits 13-year high
U.S. stock benchmarks on Friday climbed modestly higher to wrap up the week and month, after a closely watched measure of inflation by the Federal Reserve touched its highest level in 13 years. The Fed’s preferred measure of inflation-the personal-consumption expenditure index, excluding food and energy-rose 3.1% in April from a year earlier, marking its highest level since 2008. The Dow Jones Industrial Average
DJIA,
+0.39%
was up 124, or 0.4%, to 34,586, the S&P 500 index
SPX,
+0.29%
gained…
