Expected release of encouraging inflation data and first quarter economic growth report

The S&P 500 posted a weekly gain after opening lower.

On Friday, the Bureau of Economic Analysis

Told that the personal consumption expenditure value in the month of March

The index rose 4.2% year-on-year, up from 5% in February.

Core PCE, which excludes volatile food and energy prices

And the Fed's favorite inflation gauge was 4.6%, above analyst estimates of a 4.5% gain.

On Thursday, the Bureau of Economic Analysis

Reported that US GDP grew 1.1% year-on-year in the first quarter,