Stock Market Today: Stocks Rally Hard After Upbeat Inflation Data, Intel Earnings

The major market indexes finished the week on a high note, boosted by strong earnings from blue chip stock Intel.

intel stock logo in blue
(Image credit: Getty Images)

Stocks popped out of the gate Friday and stayed higher through the close. Today's positive price action came as a result of an encouraging reading on inflation, as well as a rally in Big Tech stocks following well-received earnings from Dow Jones stock Intel (INTC).   

Taking a quick look at this morning's inflation data, the Bureau of Economic Analysis said its June personal consumption and expenditures index (PCE), which tracks consumer spending, was up 0.2% month-over-month and 3.0% year-over-year. While the monthly figure was greater than the 0.1% increase seen in May, the annual increase decelerated from the prior month. Core PCE, which excludes volatile food and energy prices, also slowed vs May.

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Karee Venema
Senior Investing Editor,

With over a decade of experience writing about the stock market, Karee Venema is the senior investing editor at She joined the publication in April 2021 after 10 years of working as an investing writer and columnist at Schaeffer's Investment Research. In her previous role, Karee focused primarily on options trading, as well as technical, fundamental and sentiment analysis.