US stocks rally on upbeat economic data

US stock indices rose on Friday, after the release of strong economic data, while investors shrugged off the ongoing debate in the US Congress.

Reports have emerged yesterday that the US Senate failed to agree on the second relief package bill to address the coronavirus impact on the economy.

Observers see that Senate failure to pass this package indicates that the Democratic and Republican parties will not be able to compromise on an agreement.

Additionally, uncertainty persist over the Brexit talks between Britain and the European Union, as so far both sides haven't agreed on a flexible exit deal.

Data showed today that the US consumer price index rose 0.4% in August, beating analysts' estimates of 0.3%.

As for stocks, Dow Jones rose 0.5% or 150 points to 27,693 as of 15:28 GMT, Nasdaq rose 0.4% or 41 points to 10,960, and S&P 500 rose 0.4% or 15 points to 3,354.