America News Agency

The 30-stock Dow added 137.89 points, or 0.33 percent, ending at 42,313.00. The blue-chip average posted a closing record and reached an all-time high during the session. The S&P 500 ticked down 0.13 percent to 5,738.17, while the Nasdaq Composite lost 0.39 percent, ending at 18,119.59. A 2 percent decline in Nvidia weighed on the technology-heavy index.

The major averages each extended their gains to a third week, with the S&P 500 and the Dow rising about 0.6 percent for the period. The Nasdaq advanced nearly 1 percent during the week.

Traders received encouraging inflation data that could give the central bank more reason to cut interest rates further confidently. August’s personal consumption expenditures price index—the Federal Reserve’s favored measure of inflation—increased 0.1 percent, matching expectations from economists polled by Dow Jones. PCE increased 2.2 percent annually, below the 2.3 percent forecast.

Wall Street is coming off a winning session after a batch of data assured investors of the strength of the U.S. economy. Initial jobless claims fell more than expected in the latest week, indicating a strong labour market. At the same time, the final reading of second-quarter gross domestic product came in at a robust 3 percent. 

The 30-stock Dow advanced 137.89 points, or 0.33 percent, to close at 42,313.00. The Nasdaq Composite slipped 0.39 percent to 18,119.59, while the S&P 500 ticked down 0.13 percent to finish the session at 5,738.17.