PARIS (Reuters) – The New York Stock Exchange opened higher on Thursday as U.S. inflation data fueled hopes that the Federal Reserve would refrain from raising rates at its next monetary policy meeting.
In early trading, the Dow Jones index gained 330.43 points, or 0.94%, to 35,453.79 points and the broader Standard & Poor’s 500 rose 0.9% to 4,507.79 points.
The Nasdaq Composite took 1%, or 137.878 points, to 13,859.894.
Consumer price inflation accelerated to 3.2% year-on-year, but economists polled by Reuters on average expected a larger increase, to 3.3%.
If we exclude food and energy, the price index is up 4.7% over the 12 months to the end of July, after rising 4.8% a month earlier.
“The bottom line is that core inflation continues to decline and there is plenty of room for that to continue. Looks like the Fed is either at the end of its tightening cycle or going away. approach,” said Madison Faller, strategist at JPMorgan Private Bank.
In corporate news, Walt Disney posted quarterly earnings above expectations, helping the entertainment giant up 1.71%.
The luxury group Capri soars 56.75% after the announcement of its takeover by Tapestry (-8.51%) as part of an 8.5 billion dollar transaction (7.7 billion euros). euros).
(Laetitia Volga, editing by Kate Entringer)
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