US equities end higher, Dow Jones adds 300 points

US stocks closed Friday in the green, amid rising hopes that the Federal Reserve will continue slashing interest rates as the Fed preferred inflation gauge reading was less than expected.

The Dow Jones rose roughly 0.65%, or 299 points, to 46,247, but shed 0.15% during the week.

The S&P 500 gained 0.59%, or 38 points, to 6,643. The Nasdaq Composite Index ticked 0.44% higher to end at 22,484 points. The S&P 500 and Nasdaq recorded weekly losses of 0.31% and 0.65%, respectively.

The Stoxx Europe 600 added 0.8% to 554,52, to end the week mostly flat.

On the other hand, Germany’s DAX advanced 0.85% to 23,739. France’s CAC 40 gained 0.95% to 7,870, and the UK’s FTSE 100 inched 0.75% to 9,284.

In Japan, the Nikkei 225 gained 0.85% to 45,354, while the broader Topix was unchanged at 3,187 after breaking the 3,200 for the first time ever.

Brent crude futures for November delivery rose 1%, or 71 cents, to $70.13 a barrel on Friday, posting a 5.2% weekly gain. US West Texas Intermediate (WTI) crude for November added 1.14%, or 74 cents, to $65.72, up 5.3% for the week.

Gold futures for December delivery climbed 1%, or $37.90, to $3,809 an ounce, extending weekly gains to 2.8%.

Official data showed the US core personal consumption expenditures (PCE) price index—the Federal Reserve’s preferred inflation gauge—held steady at 2.9% in August, defying expectations of an increase to 3%.