Wall Street’s major averages rose on Friday as investors shrugged off data showing a jump in inflation, although recent worries about a spike in prices kept the S&P 500 on course for its smallest monthly gain since February. In the 12 months through April, the so-called core PCE price index vaulted 3.1%, blowing past the Federal Reserve’s 2% target and reflecting pent-up demand as the economy reopens. Technology stocks provided the biggest boost to the S&P 500, with Salesforce.com Inc adding 7% after raising its full-year forecast for revenue and profit, helped by increased demand for its cloud-based software during the pandemic.
