New York The eighth consecutive decline in US inflation pushed Wall Street into positive territory on Tuesday. Investors were hoping that the US Federal Reserve would slow down in its battle against rising prices. The Dow Jones index of record values opened up 0.7 percent at 32,055 points. The broader Standard & Poor’s 500 index rose 1 percent to 3,894 points. The Nasdaq Technology Index jumped 1.5 percent to 11,358 ranks.
US goods and services inflation fell as expected to 6.0 percent in February from 6.4 percent in January. “The number couldn’t get any better,” said Kim Forrest, chief investor at US-based Bouquet Wealth Management. “It shows that inflation is moving in the direction that the Federal Reserve has predicted and is desirable. And now you are not going to want to hurt the banks any more by raising interest rates.”
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