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Wall Street stocks surged on Wednesday and the dollar and Treasury yields fell after new inflation data showed a slowdown in the seemingly relentless rise of US consumer prices.
Wall Street's main indexes opened higher on Tuesday ahead of key inflation data this week, with investors hopeful that a slowdown in price increases could support a sooner-than-expected end to the Federal Reserve's policy of rapid monetary tightening. The Dow Jones Industrial Average rose 112.54 points, or 0.33%, at the open to 34,056.94. The S&P 500 opened higher by 6.02 points, or 0.14%, at 4,415.55, while the Nasdaq Composite gained 24.33 points, or 0.18%, to 13,709.82 at the opening bell.
* JPMorgan gains on Jefferies' upgrade ahead of results ...
A "special rebalance" of the Nasdaq 100 index will take place later this month as exchange operator Nasdaq looks to reduce the concentration of heavyweight companies that account for nearly half of the index's weight. A blistering rally in growth and technology stocks has lifted the Nasdaq 100 index by 37.5% this year. Microsoft, Apple, Nvidia, Amazon.com and Tesla combined account for 43.8% weight in the index, according to Refinitiv data as of Monday's close.
A special rebalance of the Nasdaq 100 index will take place later this month as exchange operator Nasdaq looks to reduce the concentration of heavyweight companies that account for nearly half of...