A solid week for stocks ended on a comparatively quiet note as investors took in another encouraging reading on inflation. With the pace of rising prices seemingly under control, the focus now shifts to the labor market and next Friday's release of the September jobs report.
Today, though, it was an inflation update that Wall Street was centered on. According to the Bureau of Economic Analysis, the Personal Consumption and Expenditures (PCE) Price Index increased by 0.1% in August from the month prior and was up 2.2% on an annual basis. Both figures were lower than what was seen in July.
