US stock markets closed significantly higher, Thursday, as economic data showed slowing inflation and a relaxation in the labor market, which prompted optimism that the US Federal Reserve may be close to ending the cycle of raising interest rates.
The three major US stock indices rose, with the biggest push coming from interest rate-sensitive blue chips and propelling the tech-heavy Nasdaq to its biggest one-day percentage jump in nearly a month.
stock movements
According to preliminary data, the “Standard & Poor’s 500” index closed, up 53.96 points, or 1.33 percent, to 4,145.91 points.
The Nasdaq Composite Index rose 236.94 points, or 1.99 percent, to 12,166.27.
The Dow Jones Industrial Average rose 382.54 points, or 1.14 percent, to 34,029.04.
