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Traders work on the floor of the New York Stock Exchange. NYSEStocks rose Friday as the latest inflation data gave the market a bump and helped investors make up some ground at the end of a tough month and quarter.The Dow Jones Industrial Average traded 59 points higher, or 0.2%. The S&P 500 gained 0.5%, while the Nasdaq Composite advanced 1.1%.Nike shares added more than 8% after the apparel giant reported fiscal first-quarter earnings that beat analyst expectations.Friday’s personal consumption expenditures price index reading, the Federal Reserve’s preferred inflation metric, helped perk up the market. So-called core PCE, which strips out volatile food and energy prices, rose 0.1% in August and 3.9% year over year. Economists polled by Dow Jones expected that the core PCE would advance 0.2% on a monthly basis and 3.9% year over year.”Today’s inflation report will be welcome news to the Fed,” said George Mateyo, CIO of Key Private Bank.The Dow is the only of the three major indexes on track for losses this week, down 0.7%. The S&P 500 is slated to add 0.1%, while the Nasdaq Composite should finish 1.1% higher.The market is poised to see sharp losses for the month and the quarter, both of which conclude with Friday’s close.The S&P 500 is set to finish the month down 4% and the quarter lower by 2.8%. The Nasdaq Composite is off 5% in September, and down 3.3% for the quarter. Both are on track to post their worst months this year. The Dow is on track for a 2.6% decline this month and a 1.7% fall for the quarter.”Stocks have declined too much and too fast during this seasonally volatile time of the year driven by a long list of worries,” said Carol Schleif, CIO of the BMO Family Office. “The market only a few months ago was worry free amid the belief that the Fed could engineer a soft landing, and now the market’s worry closet door is wide open as i …
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