US Stock Market Reacts Positively to Inflation Data

In a significant premarket movement, the Dow Jones Industrial Average surged by 500 points following the release of the latest inflation data. This uptick comes as the annual inflation rate in the US saw a slight decrease to 2.8% in February, down from 3% in January, signaling a cooling off period that has investors optimistic.

Detailed Inflation Figures

The Department of Labor Statistics reported that the Consumer Price Index (CPI) experienced a modest increase of 0.2% on a monthly basis. This data, coming in below market forecasts, has been a key driver behind the stock market's positive response.

Market Performance

At 8:31 am ET, the Dow Jones Industrial Average was up by 1.21%, or 501 points. Similarly, the Nasdaq 100 and the S&P 500 also saw gains, rising by 1.78% and 1.49% respectively. Meanwhile, the euro remained stable against the dollar, trading at $1.09149.