Dow up more than 500 pts at close after CPI data

Wednesday, 10. August 2022 22:00

Wall Street kept strong gains throughout the entire session on Wednesday, with the Dow Jones Industrial Average index jumping 535 points at the close. Lower than expected reading on July inflation in the United States possibly led to positive sentiment and belief that the Fed could slow down the pace of interest rate increases as consumer prices subside.

The Dow Jones Industrial Average index was up 1.63%, or 535 points, at the close with Disney, its best performer, rising 4.05%. The Nasdaq 100 expanded by 2.85% as Zscaler jumped 10.40% at the end of the trading session. The S&P 500 closed 2.13% higher. Norwegian Cruise Line pulled the index up, soaring 12.07%.

The euro rose by 0.86% compared to the dollar to change hands for 1.03042 at 3:59 pm ET.

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Author:
Baha Breaking News (BBN) / MS