(Reuters) – Major Wall Street indexes edged higher as fears of a banking crisis ease and real estate and tech stocks lead gains ahead of key inflation data that could shape the Federal Reserve’s path in matter of interest rates.
Investors await the February reading of the PCE index, scheduled for tomorrow, after January data which showed a strong acceleration in consumer spending.
At around 16.30 the Average was up by 117.12 points, equal to 0.36%, to 32,834.72, the by 28.00 points, equal to 0.70%, to 4,055.81, and the earns 64.74 points, or 0.54%, to 11,990.98.
Megacaps Apple, Tesla (NASDAQ:), Amazon (NASDAQ:) and Microsoft (NASDAQ:) advanced 0.6% to 1.7%, lifting both the consumer discretionary and tech sector indices in the 0.8%.
Real estate stocks led sector gains, up 1.1%.
Alibaba gains 2.7% on announcement that its logistics division has begun preparations for Hong Kong market debut, while JD.com shares climb 6.8% on plans to spin-off its infrastructure division real estate.
(Translated by Chiara Scarciglia, editing by Alessia Pé)