Wall Street rises as inflation keeps cooling

Stocks experienced a climb on Tuesday as a result of a milder inflation reading, reinforcing Wall Street’s belief that the Federal Reserve will abstain from raising interest rates this week.

The S&P 500 reached its highest level since April 2022, rising by 30.08 points or 0.7% to reach 4,369.01.

The Dow Jones Industrial Average also saw gains, with an increase of 145.79 points or 0.4% to reach 34,212.12. Additionally, the Nasdaq composite rallied by 111.40 points or 0.8% to reach 13,573.32.

The optimism in the U.S. stock market stems from the expectation that the economy can steer clear of a severe recession and that inflation will decline sufficiently for the Federal Reserve to ease its approach to rate hikes, the Associated Press has reported.

READ MORE: https://apnews.com/article/stock-market-interest-inflation-ubs-d06229cfad2ea0c822fc9085df098b0d

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