Nasdaq, S&P, Dow move higher as markets receive key inflation data (Dow Jones Indices:DJI)

Major market averages moved up into the green on Friday, a day after the first U.S. presidential debate of the year took place, and as investors received further key inflation data.

Early on and the Nasdaq Composite (COMP:IND) was +0.6%, the S&P 500 (SP500) was +0.6%, and the Dow (DJI) was +0.6%.

The 10-year Treasury yield (US10Y) dipped 1 basis point to 4.28%. The 2-year yield (US2Y) fell 3 basis points to 4.68%. See how other yields trade across the entire yield curve here.

Wall Street’s major market averages concluded in a more muted fashion on Thursday as traders parsed through a slew of economic reports.

Politics was in the spotlight as incumbent President Joe Biden and former leader Donald Trump sparred over key topics at the first televised presidential debate late on Thursday.

“Polls immediately after the debate declared Trump the winner. While incumbents often ‘lose’ debates, Biden reportedly lost by a large margin. This invites increased investor scrutiny of Trump’s policies, especially around trade,” UBS’ Paul Donovan said.

Headline and core PCE inflation both ease in May. The May PCE Price Index came in at 0.0% M/M, which was in-line with the consensus. Core PCE arrived at +0.1% which also was as forecasted.

On the economic calendar, the June Chicago PMI also hit. The Chicago PMI rose to 47.4, which was more than what was expected.

Moreover, the U.S. consumers dial back their year-ahead inflation expectations in the June consumer sentiment report.