by Ankika Biswas, Lisa Pauline Mattackal and Carolina Mandl
(Reuters) – The New York Stock Exchange ended slightly higher on Wednesday, after a mixed session in which investors remained cautious ahead of Friday’s release of U.S. inflation data.
The Dow Jones index gained 0%, or 15.64 points, to 39,127.80 points.
The broader S&P-500 gained 8.6 points, or 0.2% to 5,477.90 points.
The Nasdaq Composite advanced 87.502 points, or 0.5%, to 17,805.156 points.
“We are waiting to see the PCE inflation number on Friday to get more information,” said Michael Green, portfolio manager at Simplify.
PCE inflation is the US Federal Reserve’s (Fed) preferred indicator of price dynamics and essential to the conduct of monetary policy.
The Fed only plans to cut interest rates this year, in December. However, investors anticipate two declines in total this year, including one in September, according to LSEG data.
“Investors are awaiting tomorrow’s presidential debate and the release of economic data, including PCE (inflation) on Friday,” said Sam Stovall, chief strategist at CFRA Research.
In values, Whirlpool rose after Reuters reported that the German group Robert Bosch was considering launching a purchase offer for the American company.
FedEx was also up after releasing its quarterly numbers.
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(With contribution from Sruthi Shankar; French version Camille Raynaud)
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