Wall Street Ends Week Higher Amid Inflation Data

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Wall Street Ends Week Higher Amid Inflation Data
Photo: Yuki Iwamura/AP/TT

The stock market in New York ended the week's last trading day on the green track following important inflation figures. Swedish payment giant Klarna fell back 3.8 percent.

American inflation is increasing and amounted to 2.7 percent in August compared to the same period last year, according to the central bank Federal Reserve's favorite measure, PCE. It was in line with expectations.

The Dow Jones industrial index rose 0.7 percent, the broad S&P 500 climbed 0.6 percent and the technology-heavy Nasdaq's composite index closed at a plus of 0.4 percent.

Among Friday's winners was Boeing's share, up 3.6 percent after a major deal with Turkish Airlines was completed. The American aviation authority FAA also announced that the aircraft manufacturer will partially regain its right to certify some of its planes before they are delivered to customers, reports CNBC.

The FAA banned Boeing from approving planes for air traffic on its own after the double disasters with 737 Max in 2019 and production errors on 787 in 2022.

Truck conglomerate Paccar rose 5.2 percent, a reaction to President Donald Trump's announcement of 25 percent import duties on heavy trucks from October 1.

The recently listed Swedish payment service company Klarna fell 3.8 percent, which means that the price of the share is now just below the listing price of 40 dollars.

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By TTEnglish edition by Sweden Herald, adapted for local and international readers

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