Wall Street gains on easing inflation

The Dow rose 163.51 points, or 0.47%, to 34,991.21, the S&P 500 gained 7.18 points, or 0.16%, at 4,502.88 and the Nasdaq added 9.46 points, or 0.07%, at 14,103.84.

NEW YORK: US stocks closed slightly higher on Wednesday, as fresh inflation data reinforced investor hopes that the Federal Reserve is done raising interest rates, while retail stocks were boosted by an upbeat forecast from Target .

Shares in Target surged 17.8% in its biggest one-day percentage gain since August 2019 after the retailer forecast a fourth-quarter profit largely above expectations on easing supply-chain costs.