The consumer price index released by the Labor Department rose 4.9% in April from a year ago, against an expected increase of 5%, raising hopes that the US Federal Reserve is on the point of ending the cycle of rate hikes that began more than a year ago. There is. On a monthly basis, the CPI rose 0.4% in April, after rising 0.1% in March.
Weaker-than-expected inflation data boosted the Nasdaq Composite Index, rising 1.17% to its highest level in more than eight months today.
And helped Nasdaq boost its shares of Alphabet after the company used more artificial intelligence tools in its core search product in response to rival Microsoft.
stock movements
According to preliminary data, the “Standard & Poor’s 500” index rose 17.93 points, or 0.44%, to close at 4,137.10 points, and the “Nasdaq” composite index rose by 124, 68 points, or 1.04%, to 12,304.23 points.
In contrast, the Dow Jones Industrial Average fell 33.45 points, or 0.10%, to 33,528.36 points.
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