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Stock Markets Climb as Inflation Data Meets Expectations

(MENAFN) The New York Stock Exchange wrapped up the week on a positive note as inflation figures aligned with forecasts, reducing worries that the Federal Reserve might postpone its interest rate reductions.

The Dow Jones Industrial Average increased by 0.65%, or 299.97 points, finishing the day at 46,247.29.

Meanwhile, the Nasdaq gained 0.44%, or 99.37 points, closing at 22,484.07. The S&P 500 also rose by 0.59%, or 38.98 points, reaching 6,643.7.

The Volatility Index (VIX), often referred to as the "fear index," dropped 8.66%, settling at 15.29.
Even with President Donald Trump’s recent tariff declarations and uncertainty regarding the Fed’s timeline for cutting interest rates, stocks maintained an upward trajectory following the release of economic data.

The US Department of Commerce reported that personal consumption expenditures increased by 0.6% in August, surpassing projections.

Market experts noted that this data, consistent with expectations, indicated that core inflation remained steady.

Additionally, the consumer confidence index for September was revised downward, dropping 3.1 points to 55.1 compared to the previous month, marking its lowest level since May.

On the trade front, President Trump announced on Thursday that tariffs will be imposed starting October 1 on imported pharmaceuticals, kitchen and bathroom cabinets, upholstered furniture, and heavy trucks.

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