Around the World Stock Markets Rally as Investors Await CPI

Stocks climbed globally on Wednesday, reaching their highest levels in months.

The gains came ahead of the release of key inflation data in the United States on Thursday.

The Dow Jones Industrial Average rose by more than 300 points, or 1%, to 34,933. The S&P 500 also gained 1%, reaching 4,794. The Nasdaq Composite led the gains, rising by 1.6% to 16,112.

The rally was fueled by optimism that the US Federal Reserve will soon slow the pace of its interest rate hikes. The Fed has been raising rates aggressively in an effort to tame inflation, but there are signs that inflation is finally starting to cool.

The release of the Consumer Price Index (CPI) on Thursday will provide investors with more insight into the state of inflation. If the CPI shows that inflation is continuing to moderate, it could further boost stock prices.