US stocks head for a 5-day winning streak as investors assess Fed's favorite inflation gauge

• Stocks headed for a five-day winning streak as investors digested the Fed's favorite inflation measure.
• Core PCE inflation rose 4.2% year per year in July, in line with economists' expectations.
• But stocks are still on track for monthly losses.

US stocks rose on Thursday and looked to notch a five-day winning streak as investors surveyed the latest inflation data. 

The core Personal Consumption Expenditures price index, which is the Fed's preferred measure of inflation, increased 0.2% over July, and 4.2% over the last year, in line with economists' expectations.