US Indices End Higher Wed Despite Strong Jan Inflation

Benchmark equity indices in the US recovered from the early session weakness to end firmly higher for the fourth straight session on Wednesday, as investors shrugged off the stronger-than-expected January inflation data and a spike in bond yields.

The strength in the stocks came as investors have factored in an economic scenario with higher inflation and a quicker pace of tightening of US monetary policy, following the recent sell-off in equities, reports said.

US indices moved lower in the early session after a report from the Labour Department showed that Jan CPI climbed by 0.5% after edging up by a revised 0.2% in December, and higher than consensus estimate of 0.3%.

However, a separate report from the Commerce Department showed an unexpected decrease in retail sales in January.

Dow Jones closed at 24893.40 up 1.03%, S&P 500 ended at 2698.63 up 1.34% and NASDAQ closed at 7143.61 up 1.86%.
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