Wall Street closes higher as inflation subsides
Major equity markets in the United States closed off the Thursday session with solid gains, as the consumer price index in the country declined further, raising hopes that the Federal Reserve’s monetary policy might be directing inflation to the right path.
Meanwhile, Fed officials shared that global prospects “brightened” in the past few weeks, while data on "spending, investment, and employment" seems to have pushed previous recession risks out. Nevertheless, they cautioned that inflation is "well above target" and that interest rates need to stay at “high enough levels” for the 2% goal to be reached.
The Dow Jones finished with a 0.64% or 216-point gain, as Walt Disney jumped 3.60%. The Nasdaq 100 grew 0.50% at the close, with MercadoLibre skyrocketing 9.34%. At the same time, S&P 500 rose 0.34%, as American Airlines surged 9.71%. The euro increased 0.90% against the dollar at 3:59 pm ET, selling for 1.08513.