Wall Street is leaving fear of inflation behind

Wall Street is leaving fear of inflation behind. Business optimism pushed the US stock exchanges on Friday. The Dow Jones index of standard values closed 0.2 percent higher to 34,529 points. The technology-heavy Nasdaq advanced 0.1 percent to 13,748 points. The broad S&P 500 also gained 0.1 percent to 4204 points. "Investors are basically fearless at this point," said trader Dennis Dick of broker Bright Trading. "There have been inflation concerns that have been shaken off as investors don't want to miss a thing on their way to record highs and amid a rebound in technology stocks." The rise in prices in April did nothing to change that. The rate of inflation, which the US Federal Reserve particularly eyed, which excludes energy and food costs, rose by 3.1 percent within a year in April. Experts had only expected 2.9 percent. The latest comments from the US Federal Reserve have helped ease investors' inflation worries, said strategist Rick Meckler of asset manager Cherry Lane Investments. Many central bankers, including US Treasury Secretary Janet Yellen, expect the rise in inflation to be temporary. Nevertheless, the Fed is approaching a debate about the meltdown of economic aid. On the foreign exchange market, cryptocurrencies resumed their downward slide after an interim high. Bitcoin and Ethereum each fell more than six percent. "Bitcoin is still in a downward spiral and is struggling to break free," says analyst Timo Emden from Emden Research. Speculation about tighter regulation of the sector weighed on sentiment. Shares in software company Salesforce.com rose 5.4 percent after the software company raised its full-year forecast for sales and earnings. Investors, however, were unimpressed by the numbers from Dell and HP, although both companies exceeded sales expectations for the quarter. However, they warned that the ongoing shortage of computer chips could make it harder to service the demand for laptops this year. Dell lost more than one percent, HP almost nine percent. The losers also included Boeing at a discount of 1.5 percent. The US aircraft manufacturer had to stop deliveries of its wide-body aircraft 787 Dreamliner again, as the aviation authority announced. Boeing had to prove whether the proposed inspection methods met the required standards. Speculators struck again with AMC papers. The shares of the cinema chain went up and down: at the top it went up by 38.5 percent and then by seven percent. Experts see comments in relevant Internet forums as a main driving force behind the current price volatility. There, small investors cheer each other on to buy. At the end of trading, AMC was down 1.5 percent.