U.S. Stock Markets Close Higher Ahead of Fed Rate Decision
The Dow experienced a 0.22% increase, gaining 104.05 points to settle at 47,954.99. Meanwhile, the Nasdaq advanced 0.99%, adding 72.99 points to reach 23,578.13, and the S&P 500 inched up 0.19%, or 13.28 points, finishing at 6,870.40.
The Volatility Index (VIX), commonly referred to as the "fear index," decreased by 2.34%, closing at 15.41.
Investors examined recent macroeconomic indicators ahead of the Fed's upcoming monetary policy session, and stock indices generally followed a favorable trend. Data released throughout the week offered mixed signals regarding the labor market, while recent figures provided insights into inflation expectations.
According to data from the US Commerce Department, personal consumption expenditures in September rose by 0.3%, aligning with analysts’ forecasts. The core personal consumption expenditures price index, which the Fed uses as an inflation gauge and excludes food and energy components, increased by 0.2% on a monthly basis and 2.8% year-over-year in September.
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