Hafar1014
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Stocks jumped Thursday, snapping a recent losing streak, following an encouraging readout on inflation.
The delayed consumer-price index for November showed prices rose 2.7% in the past 12 months, slowing from a 3% rate in September and considerably below consensus forecasts.
Economists polled by The Wall Street Journal had expected a 3.1% rate.
Excluding volatile food and energy prices, the core rate stood at 2.6%, also slower than expected.
That was the lowest core inflation since early 2021, before a pandemic-era spike that took this rate above 6%.
However, economists cautioned against reading too much into the report due to gaps in data collection during the government shutdown. The stoppage meant there was no October CPI report.
The Nasdaq composite led gains, rising more than 1%. The dollar slipped and Treasury yields held losses. Shares in Nvidia and other artificial-intelligence-linked companies rose after Micron said it expects demand from AI developers to boost growth. The memory-chip stock surged.
—By Ed Ballard
Wall St Journal
The delayed consumer-price index for November showed prices rose 2.7% in the past 12 months, slowing from a 3% rate in September and considerably below consensus forecasts.
Economists polled by The Wall Street Journal had expected a 3.1% rate.
Excluding volatile food and energy prices, the core rate stood at 2.6%, also slower than expected.
That was the lowest core inflation since early 2021, before a pandemic-era spike that took this rate above 6%.
However, economists cautioned against reading too much into the report due to gaps in data collection during the government shutdown. The stoppage meant there was no October CPI report.
The Nasdaq composite led gains, rising more than 1%. The dollar slipped and Treasury yields held losses. Shares in Nvidia and other artificial-intelligence-linked companies rose after Micron said it expects demand from AI developers to boost growth. The memory-chip stock surged.
—By Ed Ballard
Wall St Journal