The Dow Jones Industrial Average (DIA) closed at an all-time high after new data showed that inflation in the U.S. continues to trend down towards the U.S. Federal Reserve’s 2% target.
The leading index that is comprised of 30 blue-chip stocks and meant to act as a proxy for the U.S. economy finished trading on Sept. 27 up 137 points, or 0.3%, and at an all-time high of 42,313.00. It was the 32nd time this year that the Dow closed at a record high.
The latest all-time high was achieved after the U.S. Federal Reserve’s preferred inflation gauge, the Personal Consumption Expenditures (PCE) index, showed consumer prices continued to cool in August, declining to an annualized rate of 2.2%. That’s near the U.S. central bank’s 2% annualized inflation target. Core inflation, which excludes volatile food and energy prices, rose 2.7% during August.
Markets Remain Buoyant
Markets have remained buoyant since the U.S. Federal Reserve…
