As the US market opened, spot gold fell 0.4% to $4,110.59 an ounce. (Image: Unsplash) Show Quick Read Summary is AI Generated. Newsroom Reviewed

The main Wall Street indices rose on Friday to hit record high after latest consumer price index data indicated that Federal Reserve could cut rates this year.

Dow Jones Industrial Average rose 565 points or 1.2%, S&P 500 rose over 1%, and Nasdaq Composite was up 1.3%. S&P 500 on Friday crossed the 6,800 mark for the first time in history. In addition, Dow is likely to secure its first close above the 47,000 level.

Minutes into the trade, the Dow Jones Industrial Average had risen 228 points or 0.5%, S&P 500 was up 0.64%, and Nasdaq Composite had gained 0.87%.

The September CPI inflation rose 0.3%, taking the annual inflation rate to 3%,

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