ISTANBUL

The New York Stock Exchange ended the week on a high note as inflation data came in line with expectations and eased concerns that the Fed might delay interest rate cuts.

The Dow added 0.65%, or 299.97 points, to close at 46,247.29.

The Nasdaq was up 0.44%, or 99.37 points, to close at 22,484.07, while the S&P 500 rose 0.59%, or 38.98 points, to 6,643.7.

The Volatility Index (VIX), also known as the "fear index," fell 8.66% to 15.29.

Despite US President Donald Trump's new tariff announcements and uncertainty about the Fed's interest rate cut process, stocks followed a positive course after economic data was released.

The US Department of Commerce said personal consumption expenditures increased in August rose 0.6%, exceeding expectations.

Analysts said the data, which was in line with expectations, showed that core inflation remained stable.

In addition, the consumer confidence index was revised downward in September; the consumer confidence index fell 3.1 points to 55.1 compared to the previous month, reaching its lowest since May.

On the trade front, Trump announced Thursday tariff rates that will apply to imported pharmaceuticals, kitchen and bathroom cabinets, upholstered furniture, and heavy trucks starting Oct 1.

Accordingly, tariff rates were set at 100% for branded or patented drug products from companies that do not build manufacturing facilities in the US; 50% for kitchen and bathroom cabinets and related products; 30% for upholstered furniture and 25% for heavy trucks.

Meanwhile, with the fiscal year ending Sept. 30 in the US fast approaching, no agreement has been reached on the federal budget.

The situation is causing concern, with Trump blaming Democrats on Thursday if the federal government shuts down.