U.S. stock markets experienced significant gains on Tuesday, with the Dow Jones Industrial Average closing at 44,449 points, representing a 1.1 percent increase from the previous trading day.
The broader S&P 500 index also rose, gaining 1.1 percent to approximately 6,446 points. Technology stocks led the charge, with the Nasdaq 100 increasing by 1.3 percent to around 23,839 points.
Contrary to some economists’ expectations, U.S. inflation remained steady in July at 2.7 percent, following a marked increase in June. This has fueled investor hopes that the Federal Reserve may consider a reduction in interest rates, potentially providing a boost to the U.S. economy, particularly in light of recently increased unemployment figures.
However, the positive reaction to stable inflation may be tempered in the coming months. Core inflation, excluding food and energy costs, rose from 2.9 percent in June to 3.1 percent in July, indicating underlying price pressures.
In currency markets, the Euro strengthened on Tuesday evening, trading at 1.1675 U.S. dollars. Conversely, one U.S. dollar was worth 0.8565 Euros.
The price of gold saw a slight increase, reaching 3,347 U.S. dollars per troy ounce (+0.1 percent), equivalent to 92.17 Euros per gram.
Oil prices, however, declined. Brent crude, a benchmark North Sea oil, closed at 66.12 U.S. dollars per barrel, a decrease of 51 cents or 0.8 percent from the previous day’s close.
