U.S. stocks rise amid positive sentiment
NEW YORK, Nov. 11 (Xinhua) -- Wall Street's major indexes rose on Friday as markets responded favorably to a cooler-than-expected U.S. inflation report.
The Dow Jones Industrial Average added 32.49 points, or 0.10 percent, to 33,747.86. The S&P 500 increased 36.56 points, or 0.92 percent, to 3,992.93. The Nasdaq Composite Index rallied 209.18 points, or 1.88 percent, to 11,323.33.
Six of the 11 primary S&P 500 sectors ended in green, with energy and communication services up 3.06 percent and 2.48 percent, respectively, outpacing the rest. Health care dipped 1.28 percent, the worst-performing group.
The above market reactions came as encouraging signs in U.S. inflation raised hopes for less aggressive rate hikes from the Federal Reserve.
Data released Thursday showed the core and headline consumer price index for October rose less than forecast, pushing the annual rates down from the previous month.
The year-over-year rate of inflation slowed to 7.7 percent for the headline reading, from 8.2 percent in September. The core rate slowed to 6.3 percent in October year over year, from 6.6 percent in the prior month.
For the week, the Dow rose 4.1 percent, the S&P 500 gained 5.9 percent and the Nasdaq jumped 8.1 percent.
Photos
Related Stories
- The most expensive US midterm elections
- US must heed calls from Indonesia and not hijack G20 summit
- Total cost of US midterm elections to set new record
- New Omicron subvariants make up over 35 pct of U.S. COVID-19 cases
- Tragedy of disappearing old lady exposes crisis of missing Indigenous women in U.S.
- U.S. adjusts tax rules to curb skyrocketing inflation
- Russian, U.S. defense chiefs discuss Ukraine situation over phone
- Iran urges U.S. to abide by int'l shipping law
- U.S. teens fastest growing group to die of Fentanyl overdoses: BBC
- U.S. pediatric hospitals overwhelmed as respiratory syncytial virus rages
Copyright © 2022 People's Daily Online. All Rights Reserved.