* Major U.S. stock indexes close higher; chips lead
* Real estate biggest gainer among S&P sectors; comm svcs
down
most
* Crude little dips; gold, gains; dollar inches higer;
bitcoin
down >6%
* U.S. 10-Year Treasury yield ~1.58%
May 28 – Welcome to the home for real-time coverage of
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WALL ST EDGES HIGHER AS INFLATION FEARS DISSIPATE (1615
EDT/2015 GMT)
Stocks on Wall Street edged a bit higher on Friday after
investors took in stride a stronger reading than expected of
inflation, bidding up tech stocks while at the same time
latching onto defensive stocks.
U.S. consumer prices as measured by the personal consumption
expenditures (PCE) price index surged in April, but investors
looked through the Federal Reserve’s favored gauge for inflation
and took comfort from the Fed view that the rise is transitory.
The three major indexes rose, but gains were limited to 0.2%
for the Dow and less than 0.1% for the Nasdaq and S&P 500.
Growth-oriented stocks rose 0.18% to outpace a 0.01% gain
in…
