new York Hopes of smaller rate hikes by the US Federal Reserve are giving Wall Street a boost. The Dow Jones index of standard values was up 0.5 percent in trading on Tuesday at 33,883 points. The broader S&P 500 advanced 0.8 percent to 4,049 points. The index of the technology exchange Nasdaq was around one percent up at 11,521 places.
Above all, a surprisingly gentle increase in wages in the USA has brightened investor sentiment. Labor costs rose 1 percent in the fourth quarter, compared to 1.2 percent in the previous quarter and the median analyst forecast of 1.1 percent. “The Fed will be reviewing any index by tomorrow that could give it a better look at inflation, and this is one of them,” said economist Peter Cardillo of investment adviser Spartan Capital Securities.
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