US stocks: US market rises as cooler inflation data ease October Fed hike bets
U.S. stocks surged higher as inflation reports came in softer than analysts predicted, easing worries about potential interest rate hikes. The Commerce Department revealed a 3.4% increase in the Personal Consumption Expenditures price index year-over-year. Major players like Apple and Alphabet enjoyed price rises, contributing to a notable boost in the Nasdaq Composite.
Key Takeaways
- stocks surged higher as inflation reports came in softer than analysts predicted, easing worries about potential interest rate hikes.
- The Commerce Department revealed a 3.4% increase in the Personal Consumption Expenditures price index year-over-year.
- Major players like Apple and Alphabet enjoyed price rises, contributing to a notable boost in the Nasdaq Composite.
U.S. stocks surged higher as inflation reports came in softer than analysts predicted, easing worries about potential interest rate hikes. The Commerce Department revealed a 3.4% increase in the Personal Consumption Expenditures price index year-over-year. Major players like Apple and Alphabet enjoyed price rises, contributing to a notable boost in the Nasdaq Composite.
Original Publisher Attribution
This summary was curated from Economic Times.