U.S. stock indexes advanced in the last hour of trade on Wednesday as Dow Jones Industrial Average
and S&P 500.
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.
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.
Read the full article here