“I do not see this disturbing the markets because a greater inflation“said Peter Cardillo, chief market economist at Spartan Capital Securities.” The fact that the underlying rate was almost in line with expectations suggests that we are starting to see some kind of decline in the future. “
The Dow Jones Industrial Average was up 0.10% to 36,289.11 units, the S&P 500 was up 0.3% to 4,748.61 units. The Nasdaq Composite advanced 0.5% to 15,319.00 units.
Eight of the 11 S&P 500 industry indices rose, with technology and consumer discretionary – home to some of the largest growth-related companies – driving the benchmark.
Megacap companies such as Apple Inc, Amazon.com Inc, Microsoft Corp, Alphabet Inc and Tesla Inc all expanded their profits and added as much as 1.7%.
Big tech was buoyed by comments from Fed Chairman Jerome Powell on Tuesday, which sounded less aggressive, easing concerns sparked by minutes from the central bank’s December meeting.
Source From: Ambito
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