US stock indexes rise on industrial inflation data

The main US stock indexes are rising on Tuesday after the release of data on industrial inflation in the country.

In particular, the Dow Jones industrial index rose to 33,241.05 points, the NASDAQ index of high-tech companies – to 12,813.91 points, and the S&P 500 broad market index increased to 4,223.17 points.

Traders drew attention to the publication of data on industrial inflation in February, which was expected to remain at the January level of 10% y/y.

Also an important factor affecting the stock market is the two-day meeting of the US Federal Reserve System that began today. Its results will be published on Wednesday. In addition to the decision on the rate, the regulator will present its forecasts regarding the main macroeconomic indicators. It is expected that the Fed will finally begin the long-awaited cycle of tightening monetary policy and raise the key rate by 0.25 percentage points to 0.25-0.5%. At the same time, there is a possibility of an increase in the rate immediately by 0.5 percentage points due to the consequences of the crisis in Ukraine.

Analysts note that this meeting will be one of the most important in recent times, as the Fed needs to strike a balance in curbing inflation and supporting the economy.