U.S. stocks rise as softer inflation eases fears of imminent rate hike
Wall Street opened higher on Wednesday after inflation numbers came in below expectations, reducing concerns that the Federal Reserve will raise rates next month.
On Wednesday morning, the Dow Jones, S&P 500 and Nasdaq all posted gains as a softer-than-expected inflation reading lifted optimism that the Federal Reserve may delay a rate increase. The Dow rose about 75 points to roughly 51,425, the S&P 500 added 18 points to near 7,689, and the Nasdaq climbed about 95 points to just under 26,893. Traders said the data lessened pressure on policymakers to act quickly.
Why it matters
Investor sentiment shifts with inflation data, influencing expectations for Federal Reserve interest-rate decisions.
How this story developed
- Sep 20 Oil prices tick up after Houthi missile and drone strike on Riyadh
- Sep 24 Iran’s president publicly rejected any surrender to the United States at the UN.
- Sep 28 Asian equity markets opened with restraint on Monday as oil prices surged amid lingering US-Iran tensions, while higher bond yields added pressure.
- Sep 28 Oil prices spiked sharply, pushing bond yields higher and prompting mixed moves in Asian equities.
- Sep 29 Trump turned down Iran’s peace proposal at the United Nations.
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