The S&P 500 logged a weekly gain following the release of encouraging inflation data and a weaker-than-expected first-quarter economic growth report amid the banking woes.
On Friday, the Bureau of Economic Analysis reported the personal consumption expenditures price index increased by 4.2% year-over-year in the month of March, down from 5% in February. Core PCE, which excludes volatile food and energy prices and is the Fed’s preferred inflation gauge, was up 4.6%, above analyst estimates of a 4.5% gain.
