From Nasdaq:

Wall Street’s main indexes rose with hopes of U.S. Federal Reserve interest rate cuts after key inflation metric met estimates. Personal consumption expenditures (PCE) index rose 0.3% in Jan, and 2.4% yearly, matching expectations. Data signals Fed rate cut in June. Dow Jones, S&P 500, Nasdaq also up.

Initial jobless claims stood at 215,000, greater than expected 210,000, impacting investor sentiment. Fed seen doing well with controlling inflation. Traders bet on June for rate cuts following past data on consumer and producer prices. Wall Street indexes set for fourth monthly advance, driven by tech and AI optimism.

Tech stocks lead gains, with AI darling Nvidia rising. Snowflake slumps, but Paramount Global climbs on streaming profit. WW International falls on Oprah Winfrey board exit news. Cryptocurrency firms rise as bitcoin climbs. Software firm C3.ai jumps on strong quarterly results. US Congress seeks to avert partial government shutdown.



Read more at Nasdaq: US STOCKS-Wall St rises after in-line inflation data fuels rate cut hopes