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Wall Street stocks rose significantly, with the Dow Jones Industrial Average hitting a record closing high. The increase was driven by positive US retail sales data, which bolstered expectations that the Federal Reserve is nearing the end of its rate-hiking cycle. This development has alleviated concerns about inflation and recession, contributing to the market's positive performance. The Dow Jones gained over 1.9%, marking its best session since June 2023. Meanwhile, global markets varied in their performance.
WATCH: The Dow closed at an all-time high after US retail sales data supported expectations that the Federal Reserve will start cutting interest rates soon https://t.co/7qJV4jeTCp https://t.co/akLD28louq
The #Dow closed at an all-time high after US retail sales data supported expectations that the Federal Reserve will start cutting interest rates soon https://t.co/9iX5LTmpSP
The Dow closed at an all-time high after US retail sales data supported expectations that the Federal Reserve will start cutting interest rates soon https://t.co/3eZAhffRhA https://t.co/dERpmRjJHb