Wall Street’s main indexes rose led by gains in rate-sensitive growth stocksas focus shifts to a key inflation reading due this week, which would provide further clues to the Fed’s rate hike trajectory.
For his part, US stocks finished with strong gains on Wednesday, led by a jump in the Nasdaq indexas investors were optimistic ahead of an inflation report that could give the Federal Reserve room to rein in its aggressive interest rate hikes.
According to preliminary data, the S&P 500 index gained 50.06 points, or 1.28%, to close at 3,969.50; while the Nasdaq Composite Index added 189.07 points, or 1.76%, to 10,931.70 units. The Dow Jones Industrial Average rose 263.24 points, or 0.78%, to 33,967.34.
Money market participants see a 75% chance that the Fed will raise the benchmark rate by 25 basis points in February.
The Cedears were also buoyed by rising financial dollars. The Dollar Cash on Liquid (CCL) rebounded $5.02 (+1.5%) to $332.78, after three falls in a row, with which the gap with the official wholesale exchange rate was at 86.5%, and it rose from the minimum levels marked the previous day that went back to last June.
Source: Ambito
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