Wall Street Soars Amid Inflation and Fed Rate Cut Speculations

Wall Street reached new intraday highs on Thursday, fueled by gains across sectors, even as inflation data showed higher-than-expected consumer prices in August. With the latest figures not altering market predictions, investors expect the Federal Reserve to cut interest rates in response to soft labor market data.

In trading, the Dow Jones, S&P 500, and Nasdaq registered considerable gains, with healthcare and consumer discretionary stocks performing exceptionally well. Financial stakeholders speculate on multiple rate cuts by the Federal Reserve, anticipating an easing cycle characterized by substantial monetary policy adjustments.

Investors are especially keen on stocks like Micron Technology and Oracle, driving up trading volumes and highlighting a positive sentiment within a historically weak month for equities. Record highs and advancements in semiconductor and tech sectors underscore a robust market outlook despite challenges.

(With inputs from agencies.)