New York Stock Exchange: Dow Jones Closes 216.96 Points | RYT9

The Dow Jones New York Stock Exchange closed higher on Thursday (Jan. 12) after the US reported a slowdown in the Consumer Price Index (CPI) in December. This will be a factor that encourages the US Federal Reserve (Fed) to accelerate in raising interest rates.

The Dow Jones Industrial Average closed at 34,189.97 points, up 216.96 points, or +0.64%, the S&P 500 closed at 3,983.17 points, up 13.56 points, or +0.34%, and the Nasdaq Index closed at 11,001.10, up 69.43 points, or +0.64%.

The Dow Jones Industrial Average closed above 34,000 after the U.S. Labor Department said its headline CPI, which includes food and energy, rose 6.5 percent in December year over year. That slowed from a 7.1 percent rise in November and was the smallest gain since October. 2021. The figures are also in line with analyst expectations.

Month-on-month, the headline CPI fell 0.1% in December, in line with analysts’ expectations. And it was the first drop in more than two and a half years.

Core CPI, which excludes food and energy, rose 5.7 percent year on year in December. This slowed from a 6.0% increase in November and was also in line with expectations.

After the US released the CPI index, investors weighed more than 90% on expectations that the Fed would raise interest rates just 0.25% to a range of 4.50-4.75% at its Jan. 31-Feb. 1 meeting. After the previous weighting of 76.7%

Eight of the 11 stocks constituting the S&P500 ended in positive territory, led by energy stocks up 1.87%, with Konoco Phillips up 1.62%, Exxon Mobil stocks gaining 1.66% and Chevron stocks. Up 1.07%, Halliburton shares rose 2.88%.

Read more:  The Bank of Thailand insists not to raise interest rates until the end of the year 65, beware of 3 affected groups

Tech stocks rally as Fed slows interest rate hikes Microsoft stock rose 1.16%, Apple stock rose 2.87%, Intel stock rose 1.47% and India stock rose 3.19%.

Tesla shares closed 0.28% higher after being pressured during the day on reports that Tesla has delayed plans to expand its car plant in the Chinese city of Shanghai. which is the largest car factory in the world of Tesla

American Airlines, the largest U.S. airline, soared 9.7% after the company forecast fourth-quarter 2022 revenue to soar 17% versus 2019, before the COVID-19 pandemic. will spread from the original expected increase of only 11-13%

Banking stocks soar Before the major US banks release results today. Goldman Sachs was up 1.53%, Wells Fargo was up 0.16%, Citigroup was up 0.78%, Morgan Stanley was up 1.23% and Bank of America was up 0.36%.

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