U.S. stocks extended their gains to a third straight session on Friday after a Federal Reserve-preferred inflation reading moderated, fueling hopes that the central bank may be closer to ending its rate hiking cycle. Investors resumed buying growth stocks, with consumer discretionary and communication services names taking their turn in the spotlight. The tech-heavy Nasdaq Composite (COMP.IND) was up 1.00% to 12,133.23 points in morning trade. The benchmark S&P 500 (SP500) was higher by 0.82% to 4,084.16 points, while the blue-chip Dow (DJI) picked up by 0.74% to 33,101.09 points. All 11 S&P sectors were trading in the green, led…