new York The latest US inflation data pushed Wall Street higher on Tuesday. Investors hoped that the decline in the inflation rate would persuade the US Federal Reserve to raise interest rates slightly, thereby relieving the burden on the banking system. The fear of further bank failures after the collapse of the Silicon Valley Bank (SVB) and the Signature Bank as a result of the effects of rising interest rates, which had shaken the stock markets on Monday, subsided noticeably.
The Dow Jones index of standard values closed 1.1 percent higher at 32,155 points. The tech-heavy Nasdaq advanced 2.1 percent to 11,428 points. The broad S&P 500 gained 1.7 percent to 3920 points.
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