All three major US stock market indices are trading higher on Wednesday. Wall Street It advances after US inflation data for December was in line with expectations and eased some concerns about soon interest rate hikes.
The index Nasdaq, which has a high component of large technology, leads this advance with 0.96% to 15,298.97 units. The S&P 500, which brings together the 500 strongest companies in the US market, moved 0.31% to 4,743.68 units. The Industry Average Dow Jones earn 0.31% on 36,362.99 points.
“The issue is the inflation data, which met analysts’ expectations by totaling 7% annually, the highest level since 1982. Prices advanced 0.5% compared to November, this does not compare so badly with the monthly increase in November of 0.8%”, affirmed in an opening report the eToro platform.
After the Federal Reserve’s December minutes released last week, the market feared that US interest rates would rise sooner than expected. Consumer price data maintains expectations of rate hikes in March and eases pressure on tech firms.
Shares of tech giants Apple Inc and Microsoft Corp, which had come under pressure in recent days, are trading up more than 1.70 percent. Shares of Elon Musk’s electric car company Tesla Inc have gained 2.80 percent. In so many, banks like Goldman Sachs fall hard.