The American flag on the New York Stock Exchange.
(Photo: AP)
Frankfurt/New York The fall in inflation in the US gave a significant boost to Wall Street prices on Thursday. The Dow Jones index of standard values opened 2.3 percent higher at 33,264 points. The broader S&P 500 rose almost three percent to 3860 points. The Nasdaq technology exchange index gained five percent to 10,870 points.
US goods and services inflation fell to 7.7 percent in October from 8.2 percent in September. Experts surveyed by the Reuters news agency had expected 8.0 percent. It is the fourth straight decline and fuels hopes that inflation may have peaked and that the Fed could begin a less aggressive stance on interest rate hikes.
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