FXStreet (Córdoba) – US stocks advanced sharply on Thursday extending gains into a third day and the Nasdaq Composite closing at a fresh record high as Wall Street expects the Federal Reserve to take a slow approach on hiking rates.
The Nasdaq Composite rose 68.07 points, or 1.3% to 5,132.95. The DJIA gained 180.1 points, or 1.0%, to 18,115.84. The S&P 500 climbed 20.79 points, or 1.0%, to 2,121.23.
On the data front, US consumer price index rose by 0.4% in May, the biggest gain in more than 2 years, but below the 0.5% rise expected. Excluding food and energy, the so-called core CPI, rose 0.1% below 0.2% of consensus. Over the past 12 months CPI was flat (+0.2% exp) and core CPI rose 1.7% (1.8% exp).
(Market News Provided by FXstreet)