U.S. Stocks Advance After Inflation Data
Umer Jamshaid Published May 28, 2022 | 02:30 PM
NEW YORK, (UrduPoint / Pakistan Point News - 28th May, 2022 ) --:U.S. stocks rallied on Friday as market sentiment was lifted by a slowing inflation report.
The Dow Jones Industrial Average rose 575.77 points, or 1.76 percent, to 33,212.96. The S&P 500 added 100.40 points, or 2.47 percent, to 4,158.24. The Nasdaq Composite Index increased 390.48 points, or 3.33 percent, to 12,131.13.
All the 11 Primary S&P 500 sectors ended in green, with consumer discretionary and technology up 3.47 percent and 3.
44 percent, respectively, leading the gains.
The U.S. Commerce Department reported Friday that the nation's personal consumption expenditures (PCE) price index, the Federal Reserve's preferred inflation measure, rose 0.2 percent in April for a 6.3 percent year-on-year increase.
The core PCE prices, which exclude the volatile food and energy, rose 0.3 percent for a 4.9 percent year-on-year increase. Both the headline and core year-on-year increases fell 0.3 percentage points from March.
Recent Stories
WB director, Planning minister discuss reforms in development projects
Sindh home minister chairs law and order meeting
Bakht Kakar orders to ensure maximum facilities in livestock sector
NEPRA concludes hearing into FCA of DISCOs for March
Junta-led Burkina Faso suspends BBC, Voice of America for two weeks
Chairman COPHC lauds MoMA’s efforts at Gwadar Port, Free Zone
CM’s aide directs steps to prevent domestic violence against women
LESCO detects 74,621 power pilferers in 220 days
Regional Police officer (RPO) Shariq Kamal Siddiqui holds open court
LESCO collects over Rs 4.36m from 189 defaulters in 24 hours
Secretary health urges public to follow precautionary measures to avoid spreadin ..
PM directs formation of committee for consultation with provinces on carbon cred ..
More Stories From Miscellaneous
-
Modern Education Techniques: A pathway to achieve economic development
11 hours ago -
Kite Flying: From cultural festival to deadly sport
11 hours ago -
PDMA predicts gusty wind, rain with thunder, hails
3 days ago -
Iranian president Raisi given guard of honour at PM House
4 days ago -
Intellectuals, writers accolades Naseer Mirza on his literary contribution
5 days ago -
Bahawalpur Adabi Sangat hosts memorable mushaira
5 days ago
-
Cattle farming vital to alleviate poverty in rural areas
5 days ago -
Pakistan: A land of tourism, archeological wonders
6 days ago -
Transforming education sector: from job hunters to job creators
7 days ago -
Amjad Bobby remembered on 19th death anniversary for timeless contributions to music
11 days ago -
Legendary actor Nadeem’s 26 films released on Eid-ul-Fitr days in 50 years
12 days ago -
Besant Hall Cultural Centre to celebrate evening with Sanam Marvi on 26 April
12 days ago