• The Dow Jones Industrial Average .DJI jumped 1.03 percent to end at 24,893.49 while the S&P 500 .SPX rose 1.34 percent to finish at 2,698.63. The Nasdaq Composite .IXIC surged 1.86 percent to 7,143.62.
Wall Street surged on Wednesday as investors shrugged off stronger-than-expected inflation data and snapped up shares of Facebook, Amazon.com and Apple.
The data raised the specter of rising inflation and rekindled fears that the Federal Reserve could be forced to be more aggressive with interest rate increases. But those inflation concerns were tempered by data showing U.S. retail sales fell0.3 percent last month, the biggest decline in nearly a year and in sharp contrast to economists’ estimates for a 0.2 percent increase.
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• Asian stocks advanced early on Thursday, taking cues from the rally on Wall Street following the release of stronger-than-expected U.S. inflation data overnight. The Nikkei 225 rose 1.14 percent, or 242.61 points, in early trade.
• Markets in China, South Korea, Taiwan and Vietnam are closed on Thursday for the Lunar New Year holiday.
Reference: Reuters, CNBC
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