Nasdaq posts longest win streak since July as stocks gain after inflation data

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Stocks ended a choppy session with gains Thursday, finding support after the December consumer-price index showed inflation continued to slow, in line with forecasts, last month. The data appeared to reinforce market expectations the Federal Reserve will move slower to raise rates in 2023 after last year’s aggressive tightening. Skeptics contend bulls are underestimating the Fed’s resolve to hike the fed-funds rate, now at 4.25% to 4.5%, and above 5% and keep it there. The Dow Jones Industrial Average DJIA, +0.64% ended around 217 points higher, up 0.6%, near 34,190, according to preliminary figures. The S&P 500 SPX, +0.34% finished with a gain of 0.3%, near 3,983, while the Nasdaq Composite COMP, +0.64% advanced 0.6% to close near 11,001.

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

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