U.S. stocks rise as key inflation report looms

  • World
  • Friday, 31 Mar 2023

NEW YORK, March 30 (Xinhua) -- Wall Street's major averages finished higher on Thursday as investors awaited a key U.S. inflation report.

The Dow Jones Industrial Average rose 141.43 points, or 0.43 percent, to 32,859.03. The S&P 500 increased 23.02 points, or 0.57 percent, to 4,050.83. The Nasdaq Composite Index was up 87.23 points, or 0.73 percent, to 12,013.47.

Ten of the 11 primary S&P 500 sectors ended in green, with real estate and technology up 1.22 percent and 1.14 percent, respectively, outpacing the rest. Financials slipped 0.29 percent, the lone declining group.

The U.S. Commerce Department reported Thursday that U.S. real gross domestic product (GDP) increased at an annual rate of 2.6 percent in the fourth quarter of 2022, after increasing 3.2 percent in the third quarter.

The U.S. Labor Department reported that the number of Americans filing for unemployment benefits rose by 7,000 to 198,000 for the week ending March 25, a three-week high. Economists polled by The Wall Street Journal had forecast new claims to total 195,000

The February U.S. personal consumption expenditures price index, the Federal Reserve's preferred measure of inflation, is slated for release on Friday.

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