Equity Alert
US mkt ends higher Fri as Aug inflation in line with estimates
This story was originally published at 08:25 IST on 29 September 2025
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Equity Alert: US mkt ends higher Fri as Aug inflation in line with estimates
MUMBAI--0815 IST--US benchmark indices closed higher Friday after inflation for August boosted bets of further interest rate cuts by the US Federal Reserve. US consumer spending data for August was also better than expected.
The personal consumption index, which is the Fed's preferred inflation gauge, showed core inflation at 2.9% in August, in line with market estimates, CNBC reported. US consumer spending rose 0.6% last month after an unrevised 0.5?vance in July, the Commerce Department's Bureau of Economic Analysis said. Economists polled by Reuters had forecast consumer spending to increase 0.5%.
Shares of truck-maker Paccar rose more than 5% and those of pharmaceutical company Eli Lilly rose 1.4?ter US President Donald Trump, in a post on social media, said his administration was going to slap 100% tariffs on branded and patented pharma imports. He also said import tariffs on heavy trucks will be 25%. On the other hand, shares of artificial intelligence giant Oracle fell nearly 3%.
Market participants now see an 89% probability of a rate cut by the US Fed in October and a 66% chance of another in December, according to the CME FedWatch Tool.
Following are the closing levels of US indices Friday:
|
Index |
Level |
Change in % |
|
S&P 500 |
6643.70 |
0.59 |
|
NASDAQ Composite |
22484.07 |
0.44 |
|
Dow Jones Industrial Average |
46247.29 |
0.65 |
(Eshitva Prakash)
End
US$1 = INR 88.72
IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT
Edited by Subhojit Sarkar
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