The stock market in the US was characterized by rising prices during Thursday’s trading. The day offered several statistical news that fueled investors’ hopes that the US economy may be on the way to a soft landing rather than a crash landing as a consequence of the central bank’s rate hikes.
For example, statistics came out showing that American consumers spent more money in retail during August than analysts had expected.
That kind of consumption has historically been a mainstay of the U.S. economy, even if it can encourage merchants to raise prices—further fueling inflation.
There were also statistics that indicated that layoffs seem to continue at low levels.
The broad S&P500 index rose 0.8 percent, as did the tech-heavy Nasdaq composite index. The Dow Jones Industrial Average rose 1.0 percent.
The big talk of the day was the IPO of the British electronics company Arm Holdings, whose stock shot up almost 25 percent.