NEW YORK, April 1 ― Wall Street stocks rallied yesterday, concluding a winning first quarter on a positive note on signs of moderating inflation and receding fear over bank industry instability.The broad-based S&P 500 gained 1.4 per cent to 4,109.31, while the tech-rich Nasdaq Composite Index jumped 1.7 per cent to 12,221.91.
While the decline in headline inflation is positive news for the Fed, it shows pricing pressures remain elevated well above the US central bank's long-term target of two per cent.
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