Most US stock indices gain ground after inflation data

Economies.com
2024-02-29 17:40PM UTC

Most US stock indices rose on Thursday following US data that showed inflation has slowed down. 

 

The data released earlier today showed US personal spending rose 0.3% in January m/m, and 2.4% y/y, slowing down slightly from December.

 

Core spending rose 0.4% m/m in January, and 2.8% y/y, also slowing from December. 

 

Such data showed that inflation is ever so slightly losing steam in accordance with Fed’s plans. 

 

On the other hand, US labor data showed unemployment claims rose 13 thousand to 215 thousand in the week ending February 24. 

 

Following the collective data, US two-year treasury yields fell by 3 basis points to 4.619%, while 10-year yields fell by 4 basis points to 4.232%. 

 

Dow Jones fell 0.2%, or 78 points as of 17:39 GMT to 38,871, while S&P 500 rose 0.1%, or 5 points to 5,075, as NASDAQ added 0.3%, or 44 points to 15,993. 

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