Tonight’s Wall Street party was more low-key, but it was a party nonetheless. At the end of the session, the major indices slowed down a bit in a natural correction after the euphoria.
The Dow Jones Industrial Average closed up 0.10% on Friday at 33,747.86. The closing rally turned out to be unimpressive, but during the session the Dow Jones index added more, and then slowed down a bit in a correction.
The Standard & Poor’s 500 climbed 0.92% to 3992.93 in its best week since June.
For its part, the Nasdaq Composite Technology Index jumped 1.88% to 11,323.33.
Major indices across the Atlantic continued yesterday’s gains, driven by lower-than-expected US inflation data for October.
Under such a scenario, investors believe that the Federal Reserve may begin to slow down the pace of interest rate increases, which increased appetite for risky assets such as stocks and led to a fall in the dollar and interest rates on public debt.
With the prospect of interest rate cuts by the central bank, the technology sector, which was heavily indebted and interest rates were at very low levels, was one of the most popular in the stock market.
