Stock market news live updates: S&P 500 ekes out record closing high as traders shake off inflation concerns

Stock market news live updates: S&P 500 ekes out record closing high as traders shake off inflation concerns

Stocks ended a choppy session higher, eking out a fresh record high on Friday as investors looked beyond a stronger-than-expected print on inflation.

The S&P 500 set a new record closing high, topping its previous record level from Thursday. The Dow and Nasdaq also ended in positive territory. The 10-year yield dipped back below 1.5%. 

The Bureau of Labor Statistics reported on Thursday that its headline consumer price index rose by 5.0%, or by the most since 2008, in May. Core consumer prices, which exclude volatile food and energy prices, surged at the fastest rate since the 1990s, extending gains after an already strong April report.