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Wall Street has recovered from a slump caused by higher-than-expected inflation

The New York stock market closed higher on Wednesday, and the Dow Jones, the main gauge, rose 0.10%, recovering slightly from the sharp fall after the publication of the August inflation rate in the US, which slowed less than expected.

The session’s final results indicate that the selective Dow Jones Industrial Average index advanced 30.12 points to 31,153.09 points, while the selective S&P 500 rose 0.34% to 3,946.01 points.

The Nasdaq Composite Market, which brings together major technology companies, advanced 0.74 percent to 11,671.68 points.

On Tuesday, data on August inflation, higher than expected, caused the stock market to fall sharply.

Inflation in the United States fell in August by two-tenths from the previous month to 8.3%, higher than expected.

This is the second consecutive month in which US inflation has fallen.

Still, the US Federal Reserve (Fed) is expected to raise interest rates at the end of the month, which affected the New York market, which suffered its worst session of the year.

Some experts are even predicting that the US central bank may raise its interest rate by one percentage point at the next meeting.

In any case, the Fed will make its next interest rate policy decision next week.

Today, some investors and strategists mentioned that the market may have overreacted on Tuesday, especially after Fed Chairman Jerome Powell already announced last month that the central bank should keep raising interest rates until it is sure that inflation is under control.

On the other hand, it was announced today that the producer price index, which measures what suppliers charge companies and other customers, decreased by 0.1% from the previous month, a figure that eases pressure on the stock market.

Today’s biggest gains were in energy (2.85) and non-essential goods (1.3%), while real estate (-1.39%) and raw materials (-1.23%).

Among the 30 companies listed on the Dow Jones, gains by Chevron (2.42%) and Johnson & Johnson (2.06%) stood out, as did losses by Honeywell (-2.71%) and 3M (-2.44%).

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