Dow industrials on track for 800-point jump as investors react to inflation data

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U.S. stock futures surged to the upside on Thursday after softer-than-expected consumer price data. Up just 83 points ahead of the data, Dow Jones Industrial Average futures YM00, +2.73% were up 900 points, or 2.7%, to 33,434. S&P 500 futures ES00, +4.33% surged 118 points, or 3.1%, to 3,873.25, with those futures up just 11 points ahead of the data. Nasdaq-100 futures NQ00, +5.82% surged 390.50 points, or 3.6%, to 11,215. Bond yields were tumbling, with that of the 10-year note TMUBMUSD10Y, 3.859% plunging 21 basis points to 3.939% and that of the two-year TMUBMUSD02Y, 4.323% off 23 basis points to 4,399%. The ICE Dollar Index DXY, -1.87% slid 0.8%, while gold GC00, +2.21% surged $21 to $1,735.90 an ounce. The CPI report showed headline October inflation cooling more than expected to 7.7%, which has encouraged investors hoping the Federal Reserve can begin easing up on interest rate hikes sooner than later.

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

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