Wall Street today: US stocks surge after inflation data

Estimated read time 5 min read

US stocks surged on Wednesday, with the Nasdaq and the S&P 500 hitting intraday record highs after consumer prices increased less than expected in April.

At the opening bell, the Dow Jones Industrial Average rose 56.99 points, or 0.14%, to 39,615.10. The S&P 500 was higher by 16.58 points, or 0.32%, at 5,263.26, while the Nasdaq Composite gained 89.96 points, or 0.54%, to 16,601.14.

Crude oil

Oil prices slipped on Wednesday as International Energy Agency (IEA) trimmed its forecast for 2024 oil demand growth.

Brent crude futures were down 54 cents or 0.6 per cent at $81.84 a barrel at 1140 GMT. US West Texas Intermediate crude futures (WTI) fell 50 cents or 0.6 per cent to $77.52 a barrel. 


Gold prices climbed to a more than three-week peak on Wednesday, aided by a weaker US dollar.

Spot gold rose 0.4 per cent to $2,367.29 per ounce, as of 1322 GMT. US gold futures rose 0.6 per cent to $2,372.70.

Spot silver rose 1.5 per cent to $29.03 per ounce. 

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Published: 15 May 2024, 07:29 PM IST

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