U.S. markets soared on Friday after the personal consumption expenditure price index rose by 5% year-over-year in February, registering its lowest gain since September 2021.
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What Happened: The U.S. core PCE price index, the Federal Reserve’s preferred inflation gauge, increased by 4.6% annually in February against 4.7% in January. The Nasdaq Composite closed 1.74% higher on Friday following the news while the S&P 500 ended the session 1.44% higher. The Dow Jones gained 1.26%.
Meanwhile, following are the five stocks that are drawing investors’ attention:1. Tesla Inc (NASDAQ:TSLA): Shares of Tesla closed 6.24% higher on Friday. The EV-maker said it delivered 422,875 vehicles in the first quarter, registering a 36.39% year-over-year growth in the figure
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2. Meta Platforms Inc (NASDAQ:META): Shares of the company closed 1.97% higher on Friday. The company said on Thursday it would alter the legal basis on how Facebook and Instagram use personal data to target advertising in the European Union, reported Reuters. The decision comes after EU’s privacy regulator fined the company for alleged breaches in January, the report said.
3. World Wrestling Entertainment, Inc. (NYSE:WWE): Shares of the company closed 0.73% higher on Friday. Popular UFC mixed martial arts franchise parent Endeavor Group holdings Inc (NYSE:EDR) is in advanced talks to buy World Wrestling Entertainment in an all-stock deal, reported Reuters, citing people familiar with the matter.
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4. McDonald’s Corp (NYSE:MCD): Shares of the company closed 0.66% higher on Friday. The company is temporarily shutting down its U.S. offices this week as it readies itself to inform corporate employees about job reductions that are part of a broader restructuring, reported The Wall Street Journal.
5. Ford Motor Co (NYSE:F): Shares of the company closed 2.52% higher on Friday. The company hiked prices of some models of its popular F-150 Lightning electric pickup truck again, the latest in a series of price increases targeted at offsetting high costs, reported Reuters.
