S&P 500 creates new high as PCE index comes in line with estimates; GIFT Nifty flat

The US markets traded higher on June 28 as the Personal Consumption Expenditures (PCE) data hinted at slowing inflation and better-than-expected consumer sentiment figures. The index rose 0.1 percent in May and 2.6 percent from the previous year. The Fed’s preferred inflation measure was in line with the Dow Jones estimates.

S&P 500 created a fresh high of 5,523.64 during early trading hours, thus ending the first half of the year on a bullish note. At 9:15pm IST, the S&P 500 edged 0.29 percent higher to 5,498. The Nasdaq Composite also created a new high of 18,035 and the Dow Jones Industrial Average traded 0.22 percent higher at 39,248.75.

The GIFT Nifty traded flat-to-positive at 24,155.50, after the Indian markets rallied earlier during the day.

Nifty created a new all-time high of 24,174 during intraday trade, however, the index gave up its gains and ended 0.14 percent lower at 24,010.60. Sensex also surged to a fresh high of 79,671.58 and ended 0.27 percent lower at 79,032.73. The decline in the indices during closing hours came as several investors booked their profits.