US stock markets saw a significant uptick on Wednesday. The Dow Jones was calculated at 43,222 points at the close of trading in New York, a 1.7% increase compared to the previous trading day. The Nasdaq 100 closed at 21,238 points, a 2.3% gain, while the broader-based S&P 500 ended the day at 5,950 points, a 1.8% rise. The positive mood is likely driven by the new inflation data, which showed a smaller-than-expected increase in consumer prices, suggesting the possibility of further rate cuts by the Federal Reserve.
The European common currency was slightly weaker on Wednesday evening, with one euro trading at 1.0294 US dollars, and one dollar available for 0.9714 euros.
The gold price was able to benefit, with a price of $2,697 per fine ounce in the evening, a 0.7% increase, equivalent to 84.22 euros per gram.
Meanwhile, the oil price saw a significant surge, with a barrel of North Sea Brent crude trading at $82.50 at around 10 pm German time, a 3.2% increase from the previous day’s close.