Wall Street surges at close, Dow soars 570 pts

Friday, 27. May 2022 22:01

Major stock market indexes in the United Stated markets jumped at close on Friday, as personal consumption expenditures (PCE) in the US rose by 0.9% in April compared to March, while wholesale inventories in the country increased 2.1% in the same month. At the same time, United States President Joe Biden warned that inflation in the country is "too high" despite the "signs of progress."

The Dow Jones Industrial Average plunged 1.77% or 576 points at the closing bell, as its best performer Apple, Inc. advanced 4.08%, while Nasdaq100 improved 3.30% or 404 points with Zscaler Inc. pulling the index up by 12.57%. The S&P increased by 2.47%, pulled up by Ulta Beauty, Inc.'s 12.47% rise.

The euro improved by 0.17% against the dollar, selling at $1.07330 at 3:59 pm ET.

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Author:
Baha Breaking News (BBN) / TB