Commerce Department released a report showing consumer prices in the U.S. increased by slightly less than expected in the month of AprilUS Markets end higher on Thursday – Latest News
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29 May 2026
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U.S. markets ended higher on Thursday, as traders were optimistic following reports that U.S. and Iranian negotiators had reached a preliminary 60-day memorandum of understanding. However, the proposed agreement is yet to receive final approval from President Donald Trump, with a U.S. official saying he wants a couple of days to think about the deal. Sentiments remained upbeat as Commerce Department released a report showing consumer prices in the U.S. increased by slightly less than expected in the month of April. The Commerce Department said its personal consumption expenditures (PCE) price index rose by 0.4 percent in April after climbing by 0.7 percent in March. Street had expected prices to increase by 0.5 percent. The report also said the annual rate of growth by the PCE price index accelerated to 3.8 percent in April from 3.5 percent in March, in line with street estimates.Â
On the sectoral front, technology stocks led the gains, with software and computer hardware companies posting strong advances and providing significant support to the tech-heavy Nasdaq. The strength was reflected in the Dow Jones U.S. Software Index, which climbed 3.4%, while the NYSE Arca Computer Hardware Index advanced 2.9%. Biotechnology stocks also witnessed robust buying interest, with the NYSE Arca Biotechnology Index surging 2.6%, further contributing to the broader market’s positive performance.
Nasdaq jumped 242.74 points or 0.91 percent to 26,917.471, S&P 500 gained 43.27 points or 0.58 percent to 7,563.63 and Dow Jones Industrial Average increased 24.69 points or 0.05 percent to 50,668.97.
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