Wall Street Rises as Inflation Data Eases Fed Concerns
Wall Street's major indexes saw an uptick after inflation data aligned with expectations, relieving worries about potential delays in Federal Reserve interest rate cuts. The Dow Jones, S&P 500, and Nasdaq Composite all experienced notable gains at the market open.
Wall Street witnessed a positive opening on Friday as the latest inflation figures matched market forecasts. This development alleviated fears that ongoing price pressures might postpone interest rate reductions by the Federal Reserve.
The Dow Jones Industrial Average surged by 154.1 points, or 0.34%, reaching 46,101.45. Meanwhile, the S&P 500 climbed 10.7 points, or 0.16%, to settle at 6,615.38.
Elsewhere, the Nasdaq Composite recorded a growth of 18.6 points, or 0.08%, ending at 22,403.273. Investors appeared cautiously optimistic amid the predictable inflation results, indicating a stable economic outlook.
(With inputs from agencies.)
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