Dow Jones, S&P 500 and Nasdaq rise as CPI inflation reaches desired level

US stocks opened higher on Wednesday as investors digested Another month of sticky inflation data Which meets economists’ expectations and likely indicates an interest rate cut by the Federal Reserve next week.

Dow Jones Industrial Average (^ DJI(up by about 0.2%, while the Standard & Poor’s 500 index rose)^ GSBC) jumped nearly 0.5%. The high-tech Nasdaq Composite Index (^ IX) also led to overall gains, rising nearly 0.8%.

New inflation data released Wednesday showed that consumer prices rose as expected in November, keeping the Federal Reserve on track to cut interest rates again in December.

the Latest data From the Bureau of Labor Statistics Show The Consumer Price Index (CPI) rose 2.7% compared to the previous year in November, a slight increase From the annual price increase in October of 2.6%. The annual increase matched economists’ expectations.

On a “core” basis, which excludes the more volatile costs of food and gas, prices in November rose 0.3% from the previous month, matching October, and posted an annual rate of 3.3% for the fourth straight month.

Earlier on Wednesday, A The report being studied by China The devaluation of its currency had effects on global stock markets and supported the dollar (dx=f). The potential move is seen as a response to higher tariffs promised by President-elect Donald Trump, as the yuan weakens.Chinese Yuan to US Dollar=X) could make Chinese exports cheaper.

On the corporate level, Messi (M) The stock fell more than 10% in early trading after the department store chain cut its full-year earnings guidance. Retailer Released third quarter results After a report was delayed while an employee was investigated for concealing up to $154 million in expenses.

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