The Dow Jones Industrial Average (DIA) closed at an all-time high after new data showed that inflation in the U.S. continues to trend down towards the U.S. Federal Reserve’s 2% target. The leading index that is comprised of 30 blue-chip stocks and meant to act as a proxy for the U.

The PCE price index rose 0.1% in August, and chalked in PCE inflation growth of just 2.2% YoY, easing to the key inflation indicator’s lowest level since March of 2021. Headline inflation figures continue to ease toward the Federal Reserve’s (Fed) 2% target,

U.S. stocks were mixed after the close on Friday, as gains in the Oil & Gas, Utilities and Consumer Goods sectors led shares higher while losses in the Technology, Consumer Services and Basic Materials sectors led shares lower.