Wall Street's major indexes rose on Thursday as a sharp decline in US producer inflation lifted expectations of the Federal Reserve (Fed) to end its tightening cycle.
At the close of the New York session, the Dow Jones Industrial gained 1.1% to 34,029.70, while the S&P 500 rose 1.3% to 4,146.21 and the Nasdaq jumped 2% to 13,109.39.
The US30 index was also higher around 33,981 in the Asian session.
At its lowest since January 2021, annual producer inflation was reported to have risen 2.7% last month, down from 4.9% recorded in February.
This shows that price pressure in the US is easing, coupled with the release of consumer inflation data which also declined to 5% in March compared to 6% previously.
The jump in the main index was driven by gains in big tech stocks, with Alphabet (Google) up 2% and Apple up 3%.
Despite the increase, the market remained cautious on Friday as the bank's earnings report was due to be released. These include from JPMorgan Chase & Co, Citigroup Inc and Wells Fargo & Company.
At the same time, the focus will also be on the release of US retail sales and consumer confidence data in the New York session.
