The stock market reacted positively to the latest Personal Consumption Expenditures (PCE) inflation report, with the Dow Jones Industrial Average rising by approximately 300 points. The report met expectations, showing a slight year-over-year acceleration without exceeding economists’ forecasts. This news boosted investor confidence in potential future interest rate cuts by the Federal Reserve, indicating effective inflation management. Among the impacted stocks was Chegg (CHGG), whose shares are volatile but have gained attention due to the company’s focus on AI technology. Chegg is down 7.1% since the beginning of the year, trading at $1.56 per share.

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