Wall Street gains ground amid expectations the policy tigthtening cycle is over

US stock indices rose on Wednesday following data that confirmed the signals of slowing inflation, and the end of the current cycle of policy tightening.

Wall Street rallied on Tuesday after consumer prices data showed US inflation slowed down to 3.2% y/y in October from 3.7% in September. 

US producer prices data also rose just 1.3%, slowing down from 2.2% in September.

Such data bolsters expectations of the end of the current cycle of policy tightening. 

Dow Jones rose 0.3% as of 17:59 GMT, or 115 points to 34,942, while S&P 500 rose 0.2%, or 7 points to 4,502, as NASDAQ added 0.1%, or 8 points to 14,102.