From Yahoo Finance:
Stocks experienced an upward trend on Thursday following the Federal Reserve’s favored inflation index meeting Wall Street’s predictions.

The Dow Jones Industrial Average (^DJI) experienced a slight increase, while the S&P 500 (^GSPC) saw a rise of approximately 0.3% subsequent to the report’s publication. The Nasdaq Composite (^IXIC), known for its tech-heavy portfolio, witnessed a gain of roughly 0.7%.

The core Personal Consumption Expenditures (PCE) index, which excludes the costs of food and energy, surged 2.8% over the previous year in January, marking the slowest yearly increase since a 2.2% rise in March 2021.

The index’s reading had a significant impact on stocks throughout the week, as Federal Reserve officials have consistently stated their desire to see further indications of price pressures subsiding before making any reductions in rates.

CEO Frank Slootman of Snowflake, a high-flying tech company, announced his immediate retirement. The surprise move resulted in a 23% drop in stock value. Analysts were caught off guard by the sudden departure. The importance of transparent communication from CEOs and boards in succession planning was highlighted by this event. Investors were left scrambling as the news of Slootman’s exit spread. The Street was shocked by the unexpected change in leadership at Snowflake. This incident serves as a reminder of the importance of effective communication in corporate leadership transitions.

Read more at Yahoo Finance: Stocks waver after Fed’s preferred inflation gauge meets expectations