The S&P 500 was on track for its first record close since October in the wake of some encouraging consumer sentiment and inflation numbers.
The S&P 500 was up 0.5% and on track to top its Oct. 28 closing high. The Dow was up 250 points, or 0.5%. The Nasdaq was up 0.7%. Both were still chasing their latest highs.
The major indexes were already up on the day, but their gains accelerated after both the headline and core personal consumption expenditures price indexes for September matched expectations for a 2.8% annual increase. The headline PCE rose 0.3% from August, which was above expectations at 0.2%, while the core PCE matched expectations with a 0.2% monthly uptick.