US stock exchanges continue to rally

The main US stock indexes opened trading on Thursday with growth, continuing to follow the dynamics of the previous day. The market was supported by data indicating a slowdown in inflation in the United States.

In particular, the Dow Jones Industrial Index (DJIA) rose by 0.79% to 3,3571.43 points, the NASDAQ index of high-tech companies – by 0.98% to 1,2981.20 points, the S&P 500 broad market index – by 0.88% to 4,247.12 points.

Yesterday, the US Department of Labor reported that annual inflation in the country slowed down more than expected by the end of July – from 9.1% to 8.5%. On a monthly basis, consumer prices did not change, while analysts expected them to grow by 0.2%.

Market participants expect that the slowdown in inflation will force the US Federal Reserve System to begin easing monetary policy. According to the survey, 63.5% of analysts expect the regulator to raise its base rate by 50 basis points, although earlier the markets predicted a third increase in a row by 75 bp.

Investors also paid attention to the data on applications for unemployment benefits. Their number has grown to 262 thousand, while analysts expected an increase to 263 thousand. The indicator of the previous week was revised from 260 thousand to 248 thousand applications.