New York Stock Exchange: Dow Jones Closes 216.96 Points | RYT9

The New York Dow Jones Stock Exchange closed higher on Thursday (January 12) after the US reported a slowdown in the Consumer Price Index (CPI) in December. This will be a factor that encourages the United States Federal Reserve (Fed) to accelerate in raising interest rates.

The Dow Jones Industrial Average closed at 34,189.97 points, up 216.96 points, or +0.64%, the S&P 500 closed at 3,983.17 points, up 13.56 points, or +0.34%, and the Nasdaq Index closed at 11,003, up 694. 0.64% .

The Dow Jones Industrial Average closed above 34,000 after the US Labor Department said its headline CPI, which includes food and energy, rose 6.5 percent in December year over year. That slowed from a 7.1 per cent increase in November and was the smallest gain since October. 2021. The figures are also in line with analysts’ expectations.

On a month-on-month basis, the headline CPI fell 0.1% in December, in line with analysts’ expectations. And this is the first drop in more than two and a half years.

Core CPI, which excludes food and energy, rose 5.7 percent year-on-year in December. This slowed from a 6.0% increase in November and was also in line with expectations.

After the US released the CPI index, investors weighed more than 90% on expectations that the Fed would raise interest rates by just 0.25% to a range of 4.50-4.75% at its meeting Jan. 31-Feb. 1. After the previous weighting of 76.7%

Eight of the 11 stocks that make up the S&P500 ended in positive territory, led by energy stocks up 1.87%, with Konoco Phillips up 1.62%, Exxon Mobil stocks gaining 1.66% and Chevron stocks up. 1.07%, Halliburton shares rose 2.88%.

Tech stocks rally as Fed slows interest rate hikes Microsoft stock rose 1.16%, Apple stock rose 2.87%, Intel stock rose 1.47% and India stock rose 3.19%.

Tesla shares closed 0.28 percent higher after being weighed down during the day on reports that Tesla has put plans to expand its car factory in the Chinese city of Shanghai on hold. which is the largest car factory in the world from Tesla

American Airlines, the largest US airline, rose 9.7% after the company forecast fourth-quarter 2022 revenue to soar 17% against 2019, before the COVID-19 pandemic spreads from the expected increase original of only 11-13%

Banking stocks soar Ahead of major US banks releasing results today. Goldman Sachs was up 1.53%, Wells Fargo was up 0.16%, Citigroup was up 0.78%, Morgan Stanley was up 1.23% and Bank of America was up 0.36%.

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