US indices closed with strong gains in Wednesday's session after the inflation rate in June recorded its lowest annual increase in more than two years.
Inflation data confirmed expectations that the Fed may hold off on raising interest rates after an additional 25 basis point hike expected at the July meeting.
The performance of the main US indices:
The Dow Jones index increased by 0.25%, equivalent to about 86 points, achieving its third consecutive daily rise.
The S&P 500 index rose by 0.7%, recording its highest close in 15 months.
The Nasdaq Composite Index jumped 1.15% to close above 13,900 points for the first time since April 2022.
Nvidia stock:
Nvidia shares jumped by 3.5%, recording its highest close in its history, adding about $37 billion to its market value in one session.
These gains came after a report by the Financial Times said that Nvidia entered talks to become a major investor in the initial public offering of Arm, the chip maker.
Meta stock:
Meta stock jumped 3.7%, its highest close in 17 months, adding $28 billion to its market capitalization in one session.
Meta's Threads became the fastest growing app in history after reaching 100 million users in 5 days
