The Dow Jones index gained 0.67%, the tech-dominated Nasdaq advanced 0.94% while the S&P 500 rose 0.65%. Inflation in the United States surprised by accelerating more strongly than expected in April, according to the Fed's preferred measure of price increases.
The PCE index increased by 4.4% year-on-year against 4.2% the previous month. The underlying index, removing volatile sectors such as food and energy, accelerated to 4.7%.Annual inflation is therefore more than twice as high as the central bank's target.