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Wall Street indices end four-day losing streak as inflation data arrives
Wall Street indices ended the week on a positive note on Friday, breaking a four-day losing streak. The Dow Jones Industrial Average rose by 0.98% to close at approximately 52,573 points, while the S&P 500 gained 0.86% to reach 7,656 points, and the Nasdaq increased by 0.96% to 26,333 points.
The recovery followed the release of U.S. inflation data showing the Consumer Price Index (CPI) rose 0.4% in August on a monthly basis, bringing the annual rate to 3.4%. Core CPI, which excludes food and energy, rose by 0.3% month-over-month. Despite these figures, a slight decline in oil prices helped ease some market concerns.
Investors are closely monitoring the upcoming Federal Reserve policy meeting. Market data indicates a high probability, between 87% and 90%, of a 25 basis point interest rate hike. While Friday saw gains, the major indices still recorded weekly losses, with the Dow Jones falling 1.5% over the course of the week.
Entities
Dow Jones Industrial Average · Federal Reserve · Nasdaq · S&P 500 · Wall Street
Claims
What the coverage asserts, and how many sources carry each claim.
- [● 3 SOURCES] The Nasdaq rose by 0.96% to close at 26,333 points. www.insider.gr · www.mononews.gr · www.naftemporiki.gr
- [DISPUTED] The S&P 500 index rose by 0.86% to close at 7,656 points. www.insider.gr · www.mononews.gr · www.naftemporiki.gr
- [DISPUTED] The Dow Jones Industrial Average rose by approximately 0.98% to close at 52,573 or 52,592 points. www.insider.gr · www.mononews.gr · www.naftemporiki.gr
- [● 3 SOURCES] The Consumer Price Index (CPI) increased by 0.4% month-over-month in August. www.insider.gr · www.mononews.gr · www.naftemporiki.gr
- [○ 1 SOURCE] West Texas Intermediate (WTI) crude oil futures fell by 2.4% to $100.05 per barrel. www.naftemporiki.gr
- [● 3 SOURCES] Annual inflation was recorded at 3.4%. www.insider.gr · www.mononews.gr · www.naftemporiki.gr
- [● 3 SOURCES] Core CPI, excluding energy and food, rose by 0.3% month-over-month. www.insider.gr · www.mononews.gr · www.naftemporiki.gr
- [● 2 SOURCES] Market expectations for a 25 basis point interest rate hike by the Fed reached between 87% and 90%. www.insider.gr · www.mononews.gr