The stock market wrapped up its best week since early November as Wall Street breathed a sigh of relief in the wake of the latest inflation data. The Dow Jones Industrial Average gained 334 points, or 0.
The Dow, S&P 500, and Nasdaq rose Friday on the last trading day of Joe Biden's presidency as the stock market braces for change under Donald Trump.
U.S. stock futures were mostly rising Thursday after a surprise cooldown in a key inflation measure appeared to boost the chances that the Federal Reserve will cut interest rates at some point this year.
The S&P 500 closed nearly unchanged while the Nasdaq dipped after a volatile session on Tuesday as investors gauged inflation data and braced for quarterly earnings reports to justify stock valuations and the strength of the U.
The stock market's stiffest headwind, a surge in Treasury bond yields, was blown aside Wednesday by a surprisingly benign inflation report, which could rekindle bets on multiple Federal Reserve rate cuts before year-end.
After struggling for the past month, U.S. stocks got a boost this week as the latest inflation data rolled in. As a result, both the S&P 500 and Dow Jones Industrial Average were heading for their strongest advance since the week when President-elect Donald Trump won reelection.
The postelection rally in stocks was officially wiped out on Monday. At intraday lows, the S&P 500 was about 0.2% below its Election Day close. Investors are growing skittish about spiking bond yields and the prospect of higher inflation.
The S&P 500 has given up almost all of its post-election gains, with renewed inflation fears crimping Wall Street optimism about President-elect Donald Trump's proposed tax cuts and deregulation. Strong economic data have dashed hopes for a slew of interest-rate cuts by the Federal Reserve,
The stock market wrapped up its best week since early November as Wall Street breathed a sigh of relief in the wake of the latest inflation data. The Dow Jones Industrial Average gained 334 points, or 0.
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picture alliance / Contributor / Getty Images The S&P 500 jumped 1.8% on Wednesday, Jan. 15, as several financial firms reported solid results and a downtick in core inflation revived rate-cut hopes.