US Stocks Surge on Lower Inflation, Rate Hike Fears Eased

The US stock market closed higher on September 30 due to lower-than-expected inflation readings, reducing fears of another interest rate hike from the Federal Reserve.

The Dow Jones Industrial Average rose by 35.03 points or 0.07% to 51,384.95, while the S&P 500 added 27.35 points or 0.36% to reach 7,698.19.

Nvidia was among the strongest performers in the market, with a gain of 1.43%, followed by Microsoft and Apple, which rose by 1.34% and 1.31%, respectively.

The Nasdaq Composite Index increased by 159.24 points or 0.59% to reach 26,956.78, driven by gains in technology stocks such as Palo Alto Networks and Intuit.