. Investors cheered the development because it indicates the Federal Reserve’s interest rate hikes may finally be cooling inflation. The Dow rose 1,203 points, or 3.7%. The S&P 500 was up 5.5% while the Nasdaq Composite was 7.3% higher. That marked the biggest point gain for the Dow and also the biggest percentage jumps for the S&P and Nasdaq since spring 2020. Meanwhile, the 10-year Treasury yield tumbled below the threshold of 4%, to about 3.82%.
And the 10-year itself is influenced by short-term interest rates set by the Fed. The Consumer Price Index, a key inflation gauge, rose 7.7% for the year ending in October. Although that is still uncomfortably high, it is down from 8.2% in September and well below analyst estimates of 8%. It is also the smallest year-over-year increase for CPI since a 7.5% jump in January.
It will all disappear in a week.
The rich get richer 👏
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Finance Finance Latest News, Finance Finance Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Stocks see biggest rally since 2020 as investors take hope from inflation reportThe stock market staged its biggest rally in two years after a report showed Thursday morning that inflation cooled in October. It's still high 7.7 % , so less spending for the holidays and hopefully we can stop ✋️ dementia Beijing Biden from raising taxes 🤔I fear unemployment is going up next year and housing market crashes?
Source: dcexaminer - 🏆 6. / 94 Read more »
Dow ends 1,200 points higher, stocks post best day since 2020 after inflation hints at slowingU.S. stocks closed sharply higher Thursday, with all three major indexes posting their best day of gains since 2020 as investors cheered signs that U.S. inflation might be headed lower. The DJIA shot up about 1,198 points, or 3.7%, ending near 33,712. Nice for sweet puts, this is the plan
Source: MarketWatch - 🏆 3. / 97 Read more »
Stocks see biggest gains since 2020 as investors take hope from inflation reportThe stock market is staging its biggest rally in two years after a report showed Thursday morning that inflation cooled in October. Investors are hopeful because Republicans in the house will stop Biden spending…,period!
Source: dcexaminer - 🏆 6. / 94 Read more »
Stocks Stage Biggest Rally Since 2020U.S. stocks jumped to their biggest gains in more than two years, after softer-than-expected inflation data reignited bets that the Federal Reserve would slow the pace of its interest-rate increases Sell the rally as long as interest rate are going up. On a whim by the fed… a first-time global recession… I think no one knows! But it charged the stock market controlled by? Confused 😐 Republicans won... happened the day after Trump won in nov
Source: WSJ - 🏆 98. / 63 Read more »