(Bloomberg) — US stocks are on track for their third consecutive week of gains — despite languishing on Friday — as investors were repeatedly reassured that the economy is cooling without falling off a cliff.
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Treasuries rallied as fresh data on Friday cemented bets of further interest-rate cuts by the Federal Reserve.
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The S&P 500 struggled for direction for most of the session, oscillating between minor gains and losses. The Nasdaq 100 remained lower on Friday, dragged down by Nvidia Corp. on news that China is urging local companies to stay away from the firm’s chips. The dollar is on pace for a fourth week of losses. Yields are lower across the curve, with the 10-year rate around 3.75%.
The Fed’s preferred gauge of underlying US inflation rose mildly in August, as did inflation-adjusted consumer spending. Those figures…
