new York Fresh US economic data brightened sentiment on Wall Street on Thursday. The big tech values in particular increased. The Dow Jones gained 1.1 percent to 34,030 points. The tech-heavy Nasdaq was up 2 percent to 12,166 and the broader S&P 500 was up 1.3 percent to 4,146.
According to analysts, investors are hoping that the latest economic data will prompt the US Federal Reserve to only raise interest rates slightly. “We’ve climbed to the top of the inflation mountain and it looks like we’re coming down the other side,” said David Russell of online broker TradeStation.
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