new York The eighth straight drop in US inflation pushed Wall Street back into positive territory on Tuesday. Investors were hoping that the US Federal Reserve would slow down in its fight against rising prices. The Dow Jones index of standard values opened 0.7 percent higher at 32,055 points. The broader S&P 500 gained one percent to 3,894 points. The index of the technology exchange Nasdaq climbed by 1.5 percent to 11,358 places.
US goods and services inflation fell as expected to 6.0 percent in February from 6.4 percent in January. “The number couldn’t have been better,” said Kim Forrest, chief investor at US wealth manager Bokeh. “It shows that inflation is moving in the direction that the Fed expected and desired. It will not now want to damage the banks even more by raising interest rates”.
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