DOW UP 1200 POINTS10 Nov 2022 21:05
Major stock markets in the United States skyrocketed at Thursday's closing bell, amid easing concerns among investors prompted by the continuous decline of the annual inflation figures over the past months.
Ahead of today's trading session, the Labor Statistics Bureau confirmed the October CPI at a lower-than-expected 7.7%, with the figure dropping for the fourth consecutive month pulled by the Federal Reserve's strong rate hikes.
Following the data, several senior Fed officials suggested the pace of the interest rate increases could slow down as soon as next month from the previous 75-basis-point hikes. Both the pound and the euro surged against the dollar in response to the latest inflation reading.
The Dow Jones jumped 3.66% or 1,194 points. The Nasdaq 100 climbed 7.49% or 808 points. The S&P 500 advanced 5.53% or 207 points.
More to come...
Baha Breaking News (BBN) / ND