The house offers glimpses into the sustainability practices of Emiratis that have been handed down generations
Shares of JP Morgan Chase & Co rose as one of the rate-sensitive stocks, including other banks, home builders and retailers that are likely to benefit from steady to lower borrowing costs.
Stronger-than-expected results from department store operator Macy's Inc and home finance company Freddie Mac also buoyed sentiment.
Macy's shares jumped more than 7 percent, while Freddie Mac shares climbed nearly 9 percent. JPMorgan, the No. 3 U.S. bank, added more than 1 percent to $46.18 on the NYSE.
The CPI report is "just one data point, but it's certainly a positive data point since one of the many risks the market sees is runaway inflation leading to a very quick re-rise in interest rates," said Rick Meckler, president of LibertyView Capital Management in Jersey City, New Jersey.
The Dow Jones industrial average shot up 99.90 points, or 0.78 percent, to 12,932.08. The Standard & Poor's 500 Index
gained 10.54 points, or 0.75 percent, to 1,413.58. The Nasdaq Composite Index jumped 22.07 points, or 0.88 percent, to 2,517.19.
If the Fed can follow an easier interest-rate policy, investors expect lower borrowing costs to help shore up consumer spending and business investment, both key drivers of corporate profits.
A pullback in crude oil prices also helped shares of big manufacturers such as 3M Co, whose stock was among the Dow's top advancers.
3M shares gained 1.2 percent to $78.14 on the New York Stock Exchange. Shares of Macy's rose to $25.81. The S&P retail index was up 2 percent.
Shares of Freddie Mac, the second-biggest provider of funding for U.S. residential mortgages, climbed to $26.99.
Among home builders, shares of D.R. Horton Inc, the largest U.S. home builder, jumped nearly 2 percent to $15.23. The Dow Jones home construction index .DJUSHB was up 2.2 percent.
The S&P financial index .GSPF rose 1.3 percent.
On the Nasdaq, shares of Apple Inc, the iPod and iPhone maker, led advancers with a gain of nearly 1 percent to $191.56.
CPI helped calm investors a day after several key Fed officials voiced concerns about inflationary pressures following recent surges in the oil price.
U.S. crude was down almost 1 percent, or $1.16, at $124.65 on the New York Mercantile Exchange, a day after it approached $127 a barrel.
Shares of Deere & Co were a top drag on the S&P 500, down more than 7 percent at $83.67 on the NYSE after the farm and construction machinery company warned that higher material costs and possible components shortages will affect results for the rest of the year.
A total of 23 market announcements were recorded during Abu Dhabi Finance Week
Sara, Maya and Aasiya win Under-15 gold as AE’s Ladies and Under-18 boys claim silver at Riyadh Golf Club showpiece
The measure coincides with the UAE’s Union Day celebrations and its hosting of the UN Climate Change Conference COP28
CEO says the company is working to boost its total production capacity and exceed the target to achieve 100GW by 2030
‘We have no time to waste,’ COP28 president Al Jaber tells the world
Sheikh Hamdan said that this is an exceptional mission for the sake of the planet and our future generation