2024-03-01 22:42:33
Live: US stock indices rose collectively, at the close of trading on Friday, following Wall Street recorded monthly gains for the fourth time in a row.
The Nasdaq index rose 1.1 percent, with a gain of 183 points, at 16,274 points.
The S&P 500 index increased by 0.8 percent, with a gain of 40 points, at 5,137 points, and the Dow Jones Industrial Average rose by 90 points, or 0.2 percent, to close at 39,087 points.
Slowing inflation, and the Fed’s subsequent shift toward potentially cutting interest rates later in 2024, contributed to the Nasdaq’s recovery from a difficult 2022.
Data released yesterday, Thursday, showed that personal consumption expenditures inflation rose by 2.4% in January, which is the lowest annual pace of increase since February 2021, following rising by 2.6% in December.
US central bank officials are focusing on developments in inflation data in general, which will pave the way for lowering interest rates late this year.
Money markets are currently anticipating a three-quarters point cut in US interest rates in 2024.
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