Dow, S&P 500 effort to book 3rd day of gains as U.S. stocks rally in the last hour of trade

U.S. stock indexes advanced in the last hour of trade on Wednesday as Dow Jones Industrial Average
DJIA,
+0.33%
and S&P 500.
SPX,.
+0.40%
are on rate to notch the 3rd successive day of gains after December’s consumer-price index revealed indications of cooling inflation. The Dow industrials leapt 211 points, or 0.6%, to 34,185, after briefly dipping into red area previously in the early morning. The S&P 500 acquired 0.3%, while the Nasdaq Composite.
COMPENSATION,.
+0.71%
innovative 0.5%, on track to publish its 5th straight day of gains. U.S. customer costs moderated once again last month, with the heading inflation pulling back in December for the 6th month in a row, decreasing to 6.5% from 7.1% in November. Leaving out unpredictable food and energy expenses, the core inflation increased 5.7% in December from a year previously, slower than 6% in November. Fed-funds futures now show a 96% possibility of a 25-basis point increase in February, up from around 77% on Wednesday, according to CME FedWatch Tool.