Wall Street experienced a slight uptick after the latest update on inflation, which fell in line with economists’ expectations. The S&P 500 saw a 0.4 percent increase, following one of its strongest days of the year. The Dow Jones Industrial Average also rose by 0.6 percent, while the Nasdaq composite remained relatively unchanged.
Treasury yields remained steady following the release of data indicating that consumer prices for food, gasoline, and other items were 2.9 percent higher compared to the same period last year. This information suggests that the Federal Reserve will likely proceed with its plan to lower its main interest rate in September.
On Wednesday, the S&P 500 climbed by 20.78 points, reaching a total of 5,455.21. Similarly, the Dow Jones Industrial Average surged by 242.75 points, closing at 40,008.39. The Nasdaq composite, on the other hand, saw a minimal increase of 4.99 points, settling at 17,192.60. The Russell 2000 index, which represents smaller companies, experienced a slight dip of 10.87 points, or 0.5 percent, reaching 2,084.32.
Looking at the weekly performance, the S&P 500 has gained 111.05 points, equivalent to a 2.1 percent increase. The Dow Jones Industrial Average has seen a rise of 510.85 points, or 1.3 percent, while the Nasdaq has surged by 447.30 points, indicating a substantial 2.7 percent increase. The Russell 2000 index has achieved a modest growth of 3.40 points, or 0.2 percent.
Considering the year-to-date performance, the S&P 500 has soared by an impressive 685.38 points, reflecting a significant 14.4 percent increase. The Dow Jones Industrial Average has seen a more conservative growth of 2,318.85 points, equivalent to a 6.2 percent rise. The Nasdaq has experienced a similar surge, gaining 2,181.25 points, or 14.5 percent. Lastly, the Russell 2000 index has observed a more modest increase of 57.25 points, indicating a 2.8 percent growth.
It is important to note that the information provided in this article is intended for general informational purposes only and should not be considered as investment advice or a solicitation. The accuracy and timeliness of the data cannot be guaranteed.
