By CNBCTV18.com Jan 13, 2022 6:52:34 AM IST (Updated)
Major Wall Street indices - S&P 500, the Dow Jones Industrial Average and Nasdaq - surged as technology stocks led the market higher.
The US stock markets ended the day higher on Wednesday after the latest report of surging prices appeared to keep the Federal Reserve on track to raise interest rates later this year.
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Major Wall Street indices - S&P 500, the Dow Jones Industrial Average and Nasdaq - surged as technology stocks led the market higher. Inflation jumped 7 percent last month, its fastest year-over-year pace in nearly four decades, but in line with economists' forecasts. Fed Chair Jerome Powell told Congress Tuesday the Fed stands ready to raise rates to fight inflation.
US stock markets on Wednesday:
The S&P 500 rose 13.28 points, or 0.3%, to 4,726.35.