wall street stocks advanced early friday following the latest moderation in us consumer inflation as apple powered above 3 trillion in market valuation the personal consumption expenditure index measure of inflation which is closely watched by the us federal reserve eased to 38 percent yearonyear in may a significant drop from 43 percent a month earlier the data comes on the heels of other upbeat economic reports this week on firstquarter growth and consumer confidence adding to hopes the us economy can avoid a recession about 20 minutes into trading the dow jones industrial average was up 06 percent at 3433070 the broadbased sp 500 gained 10 percent to 444059 while the techrich nasdaq composite index jumped 14 percent to 1377930 apple jumped 14 percent to overtake 3 trillion in market value the tech giant also briefly reached the benchmark in january 2022 but it has never finished a trading session above that level nike fell 21 percent after it reported lower earnings than expected due to elevated freight and logistics costs and the drag from discounted merchandise