Wall Street's Upbeat Closing Amid Inflation Easing and AI Demand Surge

Wall Street's main indices closed higher Thursday due to easing inflation signals and strong AI demand insights from Micron, suggesting potential Federal Reserve rate cuts. The CPI report showed slower-than-expected price increases, while job growth stabilized, shaping optimistic market forecasts.

Wall Street closed on a positive note as inflation data and robust AI demand insights from Micron boosted investor confidence. Main indices saw gains, with the S&P 500 rising by 52.48 points, led by consumer discretionary and tech stocks.

The Consumer Price Index reported lower-than-anticipated price increases, hinting at potential interest rate cuts by the Federal Reserve, according to market experts. The recent government shutdown delayed monthly data, but the latest figures suggest easing pressures on policymakers.

Tech stocks soared, aided by Micron's optimistic AI-driven forecast and acquisitions in the consumer discretionary sector, including Lululemon. Job data showed stability, bolstering market sentiment further, while Oracle and Trump Media & Technology also reported favorable moves.

(With inputs from agencies.)