US equities rise with statistics showing low inflation

 US equities rise with statistics showing low inflation

The Dow Jones Industrial Average was up 0.2 percent at 37,475.67 after nearly fifteen minutes of trade.

Early on December 22, Wall Street equities increased due to low inflation figures and the impending Christmas vacations.

The Dow Jones Industrial Average was up 0.2 percent at 37,475.67 after nearly fifteen minutes of trade.

The broad-based S&P 500 gained 0.4 percent to 4,767.03, while the tech-heavy Nasdaq Composite index surged 0.5 percent to 15,030.80.

The Fed's preferred inflation indicator showed a little decline in November, according to statistics released on Friday.

The Commerce Department reports that the October number of 2.9 percent was down to 2.6 percent in November when compared to a year earlier for the personal consumption expenditures (PCE) price index.

This moves the figure closer to the Federal Reserve's long-term two percent objective. Analysts see the data as positive and predict a rate decrease in the near future.

According to a note from Patrick O'Hare of Briefing.com, "the main lesson from the report is that it needles the needle for the Fed whose goal is to reduce inflation with higher rates but weakening the economy in the process." Not required to do it."

Individual companies: After announcing $2 billion in cost reductions, including job cutbacks, and facing losses in the near future, sports giant Nike saw its shares tumble more than 10% in early trading on December 22. A slowdown in sales is anticipated.