US Indices Extend Rally on Federal Reserve's Policy, Eyes on Inflation Data

The three major US indices extended its rally yesterday, advancing on the day as last week's dovish policy pivot from the Federal Reserve continued to reverberate. However, investors were looking to the key inflation data. The Dow Jones Industrial Average gained 0.7 percent, the Nasdaq Composite index rose 0.6 percent and the S&P 500 rose half a percent.