US stocks rise nearly 2% at close, Dow Jones adds 700 points

US stock indices enhanced their gains during Wednesday’s trading, with the start of the quarterly business results season and the decline in T-bond yields. This followed the issuance of economic data showing inflationary pressures slowing beyond expectations.

At the end of trading, the Dow Jones rose by about 1.65%, or 703 points, to 43,221 points, closing the industrial index at the highest level since Dec. 26, 2024 (43,325 points).

The S&P 500 rose by 1.85%, or 107 points, to 5,949 points, while the Nasdaq Composite jumped by about 2.45%, or 466 points, to 19,511 points.

Looking at European markets, the STOXX Europe 600 rose by 1.35% to 515 points, bringing the European index to rise for the first time in four sessions.

The British FTSE gained by 1.2% to 8,301 points, the French CAC increased by 0.7% to 7,474 points, while the German DAX achieved a record close after rising by 1.5% to 20,574 points.

In Japan, the Nikkei index fell today by about 0.1% to 38,444 points today, while the broader Topix rose by 0.3% to 2,690 points.

Regarding the oil market, futures prices for standard Brent crude for March delivery jumped by 2.65%, or $2.11, to $82.03 a barrel.

Futures prices for US Nymex crude for February delivery rose by 3.3%, or $2.54, to $80.04 per barrel.

As for gold, futures prices for February delivery added 1.3%, or $35.5, at $2,717.8 per ounce, the highest level since Dec. 11, 2024, when it reached $2,756.7.

Bureau of Labor Statistics data showed core inflation—which excludes volatile food and energy prices—slowing to 3.2% in December 2024, from 3.3% last November, and compared to expectations for the index to remain unchanged.