11/30/2023, 10:00 PM (Source: TeleTrader)
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Dow closes highest since January 2022 on inflation data

Wall Street closed mostly higher on Thursday with the Dow Jones Industrial Average index reaching the highest closing points total since January 2022. The latest inflation data, as measured by the personal consumption expenditures (PCE) price index, came in largely in line with market expectations, possibly providing more evidence that the decline in price growth is sustainable enough for the Federal Reserve to start moving away from its restrictive monetary policy in 2024.

The Dow Jones Industrial Average index closed with a 1.47% or a 520-point gain and the S&P 500 was up 0.38% at 4 pm ET. In light of its latest quarterly report, Salesforce soared 9.36% and was the best performer at both indexes.

The Nasdaq 100 decreased by 0.25% at the close, pulled down by Lucid Group and its 3.21% fall. The euro was 0.80% lower compared to the dollar, going for 1.08840 at 3:59 pm ET.

Baha Breaking News (BBN) / MS