NEW YORK (Reuters) – The New York Stock Exchange ended sharply higher on Thursday, a rebound led by the energy and financial sectors despite higher-than-expected inflation in the United States in September, which reinforces expectations of a another sharp rate hike from the Fed.
The Dow Jones index jumped 2.83%, or 827.87 points, to 30,038.72 points.
The broader S&P-500 gained 92.88 points, or 2.60%, to 3,669.91 points.
The Nasdaq Composite rose by 232.05 points (2.23%) to 10,649.15 points.
An indicator eagerly awaited by investors, the consumer price index (CPI) accelerated to 0.4% last month in the United States after rising 0.1% in August, announced the Labor Department. Over one year, it came out at +8.2%, after an increase of 8.3% in August.
Economists polled by Reuters on average forecast a 0.2% increase month-on-month and an 8.1% rise year-on-year.
These bad figures, which reinforce the prospect of seeing the US Federal Reserve raise its key rates by 75 basis points next month, for the fourth time in a row, first caused Wall Street to plunge.
But the indices then recovered, some strategists evoking in particular technical support around 3,500 points for the S&P.
The oil majors took advantage of the rise in crude prices and financial stocks were also sought after as the major American banks will start publishing their quarterly results on Friday.
Walgreens Boots Alliance gained more than 5% after reporting better-than-expected fourth-quarter results.
(Report by Caroline Valetkevitch, French version Tangi Salaün)
Copyright © 2022 Thomson Reuters