Wall Street Gains, Tech Rallies, Tesla Hits All-Time High As Inflation Data Firms Up Fed's Next Interest Rate Cut

Benzinga12-11

Wall Street kicked off Wednesday on a positive note as November inflation data came in line with expectations, leaving traders confident in the likelihood of a Federal Reserve interest rate cut next ...

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Core inflation, which excludes volatile categories like food and energy, remained flat at an annual rate of 3.3%, also meeting expectations.Following the report, the probability of a 25-basis-point rate cut at the Fed's Dec. 18 meeting surged to 96%, up from 86% before the data release, as per CME FedWatch.This leaves little doubt that investors are almost fully pricing in an easing move by the central bank, pushing back any fears of a potential pause.Blue-chip stocks traded flat, while small caps, tracked by the iShares Russell 2000 ETF , climbed 0.7%.Meanwhile, the U.S. dollar index  – as tracked by the Invesco DB USD Index Bullish ","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"SPY":"标普500ETF","LU1366333091.USD":"FIDELITY GLOBAL FOCUS \"A\" (USD) ACC","LU0345768153.USD":"NINETY ONE GSF GLOBAL STRATEGIC MANAGED \"A\" (USD) ACC","IVV":"标普500指数ETF","SDS":"两倍做空标普500ETF","LU1974910355.USD":"Allianz Thematica Cl AMg DIS USD","IE00B775SV38.USD":"NEUBERGER BERMAN US MULTICAP OPPORTUNITIES \"A\" (USD) ACC","TSLL":"Direxion Daily TSLA Bull 2X Shares","LU1429558221.USD":"Natixis Loomis Sayles US Growth Equity RA USD","AVGO":"博通","OEF":"标普100指数ETF-iShares","LU1861559042.SGD":"日兴方舟颠覆性创新基金B SGD","QQQ":"纳指100ETF","LU1839511570.USD":"WELLS FARGO GLOBAL FACTOR ENHANCED EQUITY \"I\" (USD) ACC","BA":"波音","TQQQ":"纳指三倍做多ETF","QID":"纳指两倍做空ETF","SG9999001440.SGD":"United Global Dividend Equity Fund A SGD Dist","SH":"标普500反向ETF","VOO":"Vanguard标普500ETF","FDN":"First Trust Dow Jones Internet I","UPRO":"三倍做多标普500ETF",".IXIC":"NASDAQ Composite","LU1992135472.HKD":"ALLIANZ GLOBAL INTELLIGENT CITIES \"AT\" (HKD) ACC",".SPX":"S&P 500 Index","OEX":"标普100","LU0130102774.USD":"Natixis Harris Associates US Equity RA USD","BK4505":"高瓴资本持仓","SSO":"两倍做多标普500ETF","BK4504":"桥水持仓","PSQ":"纳指反向ETF","QLD":"纳指两倍做多ETF","GOOGL":"谷歌A","LU0198837287.USD":"UBS (LUX) EQUITY SICAV - USA GROWTH \"P\" (USD) ACC","SPXU":"三倍做空标普500ETF","TSLA":"特斯拉","SQQQ":"纳指三倍做空ETF","LU0251131958.USD":"FIDELITY AMERICA \"A\" (USD) ACC"},"translate_title":"通胀数据坚定美联储下一次降息，华尔街上涨，科技股上涨，特斯拉创历史新高","themeId":"7d162450f7aafd839ed89902c8169b52","isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"US3Y.BOND":1,"TSLA":1,"TSLL":1,"US10Y.BOND":1,"US12M.BOND":1,"US2Y.BOND":1,"GOOGL":1,"US30Y.BOND":1,"US5Y.BOND":1,"US6M.BOND":1,"US7Y.BOND":1,"BA":1,"FDN":0.9,"AVGO":0.9,".IXIC":0.9,"VOO":0.69,"SPY":0.69,"TQQQ":0.6,"SSO":0.6,"SQQQ":0.6,"UPRO":0.6,"SPXU":0.6,"SH":0.6,"OEX":0.6,"SDS":0.6,"QQQ":0.6,".SPX":0.6,"ESmain":0.6,"MNQmain":0.6,"NQmain":0.6,"IVV":0.6,"QLD":0.6,"OEF":0.6,"PSQ":0.6,"QID":0.6},"content_text":"Wall Street kicked off Wednesday on a positive note as November inflation data came in line with expectations, leaving traders confident in the likelihood of a Federal Reserve interest rate cut next week.\nThe Consumer Price Index rose 2.7% year-over-year in November, slightly above October's 2.6% annual rate, but perfectly aligned with economist forecasts. Core inflation, which excludes volatile categories like food and energy, remained flat at an annual rate of 3.3%, also meeting expectations.\nFollowing the report, the probability of a 25-basis-point rate cut at the Fed's Dec. 18 meeting surged to 96%, up from 86% before the data release, as per CME FedWatch. \nThis leaves little doubt that investors are almost fully pricing in an easing move by the central bank, pushing back any fears of a potential pause. \nMarket Reactions: Stocks Rally, Treasury Yields Dip\nKey equity indices reflected growing optimism:\n\nThe S&P 500, tracked by the SPDR S&P 500 ETF Trust (NYSE:SPY), gained 0.5%.\nThe Nasdaq 100, represented by the Invesco QQQ Trust, Series 1 (NASDAQ:QQQ), rallied 1% to 21,556 points, just shy of its all-time high of 21,626 set last Friday.\nBlue-chip stocks traded flat, while small caps, tracked by the iShares Russell 2000 ETF (NYSE:IWM), climbed 0.7%.\n\nIn the bond market, Treasury yields fell across maturities:\n\nThe 2-year Treasury yield, which is particularly sensitive to monetary policy moves, dropped 4 basis points to 4.10%.\nThe benchmark 10-year yield declined by 2 basis points to 4.20%.\nThe popular iShares 20+ Year Treasury Bond ETF (NASDAQ:TLT) ticked up 0.1%.\n\nMeanwhile, the U.S. dollar index (DXY) – as tracked by the Invesco DB USD Index Bullish Fund ETF (NYSE:UUP) – held steady. \nStandout Stock Performers\n\nTesla Inc. (NASDAQ:TSLA) climbed 1.2% to $412 per share, marking its highest level since November 2021. The rally followed Goldman Sachs' 12-month price target increase from $250 to $345. \nBroadcom Inc. (NASDAQ:AVGO) surged 4%, nearly erasing its Tuesday losses as demand recovery in semiconductors bolstered sentiment.\nBoeing Co. (NYSE:BA) gained 2.8%, extending its rally to a third session after confirming the resumption of 737 MAX production.\nAlphabet Inc. (NASDAQ:GOOGL) rose 2.7%, adding to its 5.3% jump on Tuesday. Shares reached levels last seen in July and moved tantalizingly close to record highs. \n\nRead now: \n\nTSLA Stock Surges In Wednesday Pre-Market After Multiple Price Target Hikes: Elon Musk-Led EV Giant Has Made Investors $490 Billion Richer So Far In 2024\n\nImage: Shutterstock\nUNLOCKED: 5 NEW TRADES EVERY WEEK. Click now to get top trade ideas daily, plus unlimited access to cutting-edge tools and strategies to gain an edge in the markets.\nGet the latest stock analysis from Benzinga?\n\nAPPLE (AAPL): Free Stock Analysis Report\nTESLA (TSLA): Free Stock Analysis Report\n\nThis article Wall Street Gains, Tech Rallies, Tesla Hits All-Time High As Inflation Data Firms Up Fed's Next Interest Rate Cut originally appeared on Benzinga.com\n© 2024 Benzinga.com. Benzinga does not provide investment advice. 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