Wall St edges higher after US inflation data released

Sydney Morning Herald11-13

Wall Street's main indexes have moved higher after in-line consumer price inflation data kept the US Federal Reserve on track to deliver another interest rate cut in December.The consumer price index ...

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GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.perthnow.com.au/business/markets/wall-st-edges-higher-after-us-inflation-data-released-c-16742930><strong>Sydney Morning Herald</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Wall Street's main indexes have moved higher after in-line consumer price inflation data kept the US Federal Reserve on track to deliver another interest rate cut in December.The consumer price index ...</p>\n\n<a href=\"https://www.perthnow.com.au/business/markets/wall-st-edges-higher-after-us-inflation-data-released-c-16742930\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"CPI","symbol_name":"IQ Real Return 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the other things that have been moving it lately.\"Expectations for a 25-basis point interest rate cut at the Fed's December meeting jumped to 82 per cent after the data, from about 58 per cent, according to CME FedWatch.Minneapolis Fed President Neel Kashkari said in an interview with Bloomberg TV that he was confident inflation was headed down, noting that the CPI data \"confirms\" that downward path.The Dow Jones Industrial Average rose 98.25 points, or 0.22 per cent, to 44,009.23, the S&P 500 gained 8.33 points, or 0.14 per cent, to 5,992.32, and the Nasdaq Composite gained 17.34 points, or 0.09 per cent, to 19,298.74.Rate-sensitive small-cap companies tracked by the Russell 2000 index jumped 0.9 per cent while the real estate sector gained 1.3 per cent.The benchmark index was buoyed by consumer discretionary shares, boosted by a 4.0 per cent gain in EV maker Tesla after Trump named CEO Elon Musk as a co-leader of a newly created Department of Government Efficiency.Communication services stocks declined 0.5 per cent, weighed down by Meta Platforms.A judge ruled that the Facebook owner will face an antitrust trial over its Instagram and WhatsApp acquisitions.All three major indexes closed lower on Tuesday, also pressured by rising US Treasury yields on expectations that president-elect Donald Trump's policies could exacerbate inflation.The benchmark 10-year Treasury yield eased back to below 4.4 per cent after Wednesday's CPI data.Despite the declines on Tuesday, Wall Street has been largely upbeat over the past few days, expecting Trump's pro-business stance and possible tax cuts to buoy corporate growth even as some worries remain over higher tariffs and inflation.Spirit Airlines' shares plunged 56.5 per cent after a report the US carrier is preparing to file for bankruptcy protection while the company said it is in talks with creditors.EV maker Rivian soared 19 per cent after Volkswagen on Tuesday raised its investment in the company by 16 per cent to $US5.8 billion ($A8.9 billion).Fed officials Alberto Musalem and Jeffrey Schmid are scheduled to speak later in the day.Advancing issues outnumbered decliners for a 2.35-to-1 ratio on the NYSE and a 1.64-to-1 ratio on the Nasdaq.The S&P 500 posted 23 new 52-week highs and 10 new lows while the Nasdaq Composite recorded 104 new highs and 45 new lows.","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; 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