Dow ends up over 250 points, Nasdaq extends win streak ahead of inflation data

0
15

U.S. stocks booked a second straight day of gains on Wednesday a day before investors expect a fresh reading on consumer inflation to show another monthly decline from the summer peak. The Dow Jones Industrial Average DJIA, +0.80% rose about 268 points, or 0.8%, ending near 33,972, while the S&P 500 index SPX, +1.28% booked a 1.3% gain, with both clinching a second day in a row of gains, according to FactSet. Still, the standout has been the rate-sensitive Nasdaq Composite Index COMP, +1.76% with a 1.8% increase on Wednesday that marked its fourth straight daily gain, and its longest win streak in four months, according to Dow Jones Market Data. The rally in equities comes as Treasury rates again edged lower on Wednesday, with the benchmark 10-year yield near 3.554% at 3 p.m. Eastern. It hit a peak yield in October of 4.231%. A fresh reading on inflation from the monthly consumer-price index is expected on Thursday to show the cost of living falling to a 6.5% annual rate in December, after it peaked at 9.1% in June.

This article was originally published by Marketwatch.com. Read the original article here.

Previous articleNike Executive Chairman Mark Parker to be named chairman of Disney
Next articleThe Moneyist: ‘As he reminds me, it’s not his house’: My boyfriend lives in my house with my 2 kids, but refuses to pay rent or contribute to food and utility bills. What’s my next move?

LEAVE A REPLY

Please enter your comment!
Please enter your name here