Mumbai, Dec. 8 -- The Dow rose 104.05 points (0.2%) to 47,954.99, the Nasdaq climbed 72.99 point (0.3%) to 23,578.13 and the S&P 500 increased 13.28 points (0.2%) to 6,870.40.

U.S. stocks posted modest gains for the week, with the tech-heavy Nasdaq up 0.9%, the Dow climbing 0.5%, and the S&P 500 rising 0.3%. The strength followed inflation data that largely met expectations, as the Commerce Department reported the PCE price index rose 0.3% in September, matching August's increase, while the annual rate moved up slightly to 2.8%.

Excluding food and energy, core PCE rose 0.2% for the month, with the annual rate easing to 2.8% from 2.9%, signaling a mild slowdown in inflation. The data boosted optimism about interest rate cuts ahead of the...