Stock market today: S&P 500, Nasdaq, Dow rise as Fed-favored PCE inflation data cools

US stocks moved higher on Friday as Wall Street digested a cooling in the Federal Reserve's preferred inflation gauge, increasing the odds that the central bank will cut rates next week. The S&P 500 (^GSPC) rose 0.5%, suddenly on the cusp of a fresh record. The Nasdaq Composite (^IXIC) gained 0.7%, eyeing its ninth positive close in 10 sessions. The Dow Jones Industrial Average (^DJI) gained around 0.5%, following a mixed Thursday session for the gauges. Investors continue to bet heavily on a quarter-po ...