Wall Street Soars as Inflation Cools
The S&P 500 and Nasdaq reached record levels after lower-than-expected inflation data spurred hopes for Federal Reserve rate cuts. Oracle's strong performance further bolstered market gains. The Dow Jones also experienced a modest rise, contributing to the optimistic opening in the stock market.
The S&P 500 and Nasdaq achieved record intraday highs on Wednesday, driven by surprisingly low producer inflation data. This fueled speculation of potential interest rate cuts by the Federal Reserve, catalyzing investor enthusiasm.
Adding to the positive momentum, cloud computing giant Oracle experienced a marked surge, reinforcing bullish market sentiment.
The Dow Jones Industrial Average also witnessed an uptick, climbing 20.2 points to initiate trading at 45,731.5. Meanwhile, the S&P 500 and Nasdaq also opened strongly, rising significantly alongside the Dow.
(With inputs from agencies.)
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