US investors optimistic ahead of inflation data and interest rate decision – Wall Street closes in positive territory

new York The prospect of further evidence of easing price pressures in the US ahead of the Federal Reserve’s interest rate decision has Wall Street investors back on track. Ahead of the much-anticipated inflation figures, the Dow Jones Standard Index closed 1.6 percent higher at 34,005 points. The tech-heavy Nasdaq advanced 1.3 percent to 11,143 points. The broad S&P 500 gained 1.4 percent to 3990 points.

Stockbrokers expect that the increase in US consumer prices in November has weakened to 7.3 percent from 7.7 percent in the previous month. As a result, inflation data due on Tuesday could add further fuel to speculation of a slower pace of rate hikes. The majority of stockbrokers expect a rate hike of half a percentage point for Wednesday, after four jumbo rate hikes by the Fed of 0.75 percent in a row. A slightly weaker-than-expected decline in producer price inflation weighed on Wall Street stocks ahead of the weekend.