US stocks close higher ahead of inflation data

US stock indices rose on Thursday as investors anticipate the release of the core Personal Consumption Expenditures (PCE) price index data tomorrow, Friday. This data is aimed at measuring the likelihood of an interest rate cut this year.

The Dow Jones Industrial Average advanced 36 points, or 0.1%, closing at 39,164 points.

The S&P 500 index rose nearly 0.1%, or 4 points, to end at 5,482 points. The Nasdaq Composite Index finished at 17,858 points, rising 0.3%, or 53 points. The two indices gained for the third straight session.

Elsewhere, the STOXX Europe 600 Index edged up 0.45% to 512.5 points.

Germany’s DAX 40 Index inched up 0.3% to 18,210 points. FTSE 100 closed 0.55% up at 8,179 points. The CAC 40 Index closed 1% down at 7,530 points.

The Nikkei 225 closed 0.8%, or 325 points higher, at 39,341 points. TOPIX also eased 0.3% to 2,793 points.