Wall Street Hits Record Highs as Inflation Eases

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Wall Street Hits Record Highs as Inflation Eases
Photo: Lise Åserud/NTB

New York stock exchange climbed on Friday to new record levels, after delayed figures showed cooler inflation than expected.

The Dow Jones industrial index rose 1 percent and closed at a new record level. The broad S&P 500 index climbed 0.8 percent and the Nasdaq's technology-heavy composite index increased 1.2 percent.

The US inflation rate landed in September at an annual rate of 3 percent, against expected 3.1 percent. In August, the price increase rate (CPI) was 2.9 percent.

Next week, the US central bank, the Federal Reserve, will make a new interest rate decision. The assessments were already before today's figure that it will be a cut, Friday's figures strengthen the hope for a further cut in December.

The figures would have been presented a week ago, but the shutdown of the US government has delayed the publication. Probably, no inflation figures will be released next month due to the shutdown, according to the White House.

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By TTEnglish edition by Sweden Herald, adapted for our readers

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