ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Personal Finance
  • Markets
    • Stocks
    • Global Markets
    • IPO
    • Companies
    • Currency
    • Commodities
  • My Money
  • Web Stories
  • Calculators
    • Income Tax Calculator
    • Home Loan/EMI Calculator
    • Mutual Fund Returns Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • SIP calculator
    • Lumpsum Calculator
    • SWP Calculator
  • Videos
    • M Se Market
    • Jeb Zindagi Zaroorat
    • Light Camera Stocks
    • Tech Takes
    • Big Bulls Ka Nishana
    • Paisa Wasool
    • Commodity Ke MrityunjayMantra
    • The Right Property Show
  • Economy & Infra
    • Policy & Initiatives
    • Agriculture
    • Telecom
    • Aviation
    • Railways
    • Retail
    • Roadways
    • World Economy
  • Exclusive
    • Wealth Guide
    • Interviews
  • Auto
    • Cars
    • Bikes
    • Electric Vehicle
    • Commercial Vehicles
  • Tech
    • Mobiles
    • Gadgets
    • Reviews
    • Tips and Tricks
    • Apps
  • Real Estate
    • Home Buyers
    • Builders
  • Trending
    • Entertainment
    • Politics
    • Lifestyle
    • Travel
    • Sports
    • IPL 2023
    • Karnataka Elections 2023
    • Viral
    • Education
    • Jobs
Read in App
Business News » Global Markets News

US Stock Market Today News: Dow Jones gains 103 points, Nasdaq jumps 113 points after inflation cools in November

US Stock Market Today, US Stock Market News, Dow Jones Index: Dow Jones Industrial Average rose 103.6 points to 34,108.64, the S&P 500 gained 29.09 points to 4,019.65 and the Nasdaq Composite added 113.08 points to 11,256.81.

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App
US Stock Market Today News: Dow Jones gains 103 points, Nasdaq jumps 113 points after inflation cools in November
US Stock Market News: Dow Jones Index jumps over 100 points. Pic: Reuters

US Stock Market News, Dow Jones Index Today: US stocks rose on Tuesday after a unexpectedly small consumer price increase buoyed optimism that the Federal Reserve could soon dial back its inflation-taming interest rate hikes, but concerns remained the central back could stay aggressive.

The benchmark S&P 500 jumped as much as 2.76% to a three-month high early in the trading session on news that November U.S. consumer prices barely rose as gasoline and used cars cost less, leading to the smallest annual inflation increase in nearly a year at 7.1%.

Rising expectations for smaller and slower Fed rate hikes sent U.S. Treasury yields sharply lower and helped lift rate-sensitive gauges like the S&P 500 growth index, up 1.18%, and the S&P 500 real estate index up 2.04% to their highest intraday levels in nearly three months. The real estate sector notched its biggest daily percentage gain in two weeks as the best performing of the 11 major sectors.

Fed funds futures prices implied a better-than-even chance that the Fed will follow an expected half-point rate hike this week, with smaller 25-basis point hikes at its first two meetings of 2023, and stopping shy of 5% by March.

Morgan Stanley's chief U.S. economist Ellen Zentner now sees even smaller Fed rate hikes, of 25 basis points at the central bank's February meeting, and no further increases in March, leaving the peak fed funds rate at 4.625%.

Still, equities pared gains ahead of the Fed's policy statement on Wednesday, in which the central bank is widely expected to announce a 50 basis point rate hike.

"There was some excitement early on that the CPI number was once again below expectations - it shows some sequential cooling - but once we saw that initial pop, stock investors kind of reassessed," said Jason Ware, chief investment officer at Albion Financial Group in Salt Lake City, Utah.

"That probably took some of the steam out of the markets once investors realized tomorrow very well may be (Fed Chair) Jerome Powell throwing cold water on the rally today."

The Dow Jones Industrial Average rose 103.6 points, or 0.3%, to 34,108.64, the S&P 500 gained 29.09 points, or 0.73%, to 4,019.65 and the Nasdaq Composite added 113.08 points, or 1.01%, to 11,256.81.

Energy (.SPNY), up 1.77%, was among the best performing S&P sectors on the day as the softer-than-anticipated inflation data sent the dollar lower and boosted crude oil prices.

The consumer inflation numbers follow November's producer prices report last week, which was slightly higher than expected but pointed to a moderation in the trend.

Still, some questioned whether the trend in prices could continue.

"Today's CPI print is incrementally good, but it needs to be sustained," said Venu Krishna, head of U.S. equity strategy at Barclays in New York.

"There is a big question mark whether we can really come to the 2% inflation (Fed target). Perhaps we live in a world in which it will be higher and that means rates will be higher and then multiples will certainly be lower."

Moderna Inc (MRNA.O) surged 19.63% after the biotechnology firm's experimental vaccine in combination with Merck & Co Inc's (MRK.N) blockbuster drug Keytruda showed promising results in a skin cancer study. Merck shares advanced 1.78%.

Pinterest Inc (PINS.N) jumped 11.90% after Piper Sandler upgraded the social media platform's stock to "overweight" from "neutral."

Advancing issues outnumbered declining ones on the NYSE by a 2.83-to-1 ratio; on Nasdaq, a 1.49-to-1 ratio favored advancers.

The S&P 500 posted 18 new 52-week highs and 1 new lows; the Nasdaq Composite recorded 92 new highs and 212 new lows.

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:
US stock marketDow JonesNasdaq
Written By: Reuters
Updated: Wed, Dec 14, 2022
08:38 am
New York, Reuters
RELATED NEWS
US stock market news: Dow, Nasdaq and S&P500 ends sharply lower on deadlocked debt ceiling talks US stock market news: Dow, Nasdaq and S&P500 ends sharply lower on deadlocked debt ceiling talks
US stock market news: Dow, Nasdaq and S&P500 slips on debt ceiling uncertainty US stock market news: Dow, Nasdaq and S&P500 slips on debt ceiling uncertainty
US stock markets extend rally for 2nd day on optimism regarding debt ceiling deal US stock markets extend rally for 2nd day on optimism regarding debt ceiling deal
US stock market news: Dow Jones, S&P 500 fall; tech-heavy Nasdaq Composite gains US stock market news: Dow Jones, S&P 500 fall; tech-heavy Nasdaq Composite gains
US stock market news, Dow, Nasdaq close lower as focus shifts to inflation data, debt talks US stock market news, Dow, Nasdaq close lower as focus shifts to inflation data, debt talks

LATEST NEWS

IRCTC dividend 2023: Board announces 100% final dividend

New income tax regime: How to pay zero tax on rental income upto Rs 10 lakh

IRCTC shares extend gains to second straight day ahead of Q4 results; will there be a dividend announcement?

Debt-to-earnings ratio of steel producers to remain below 2 times in FY24: Crisil Ratings

Debt-to-earnings ratio of steel producers to remain below 2 times in FY24, says Crisil Ratings

Bank stocks will continue to outperform in FY24; HDFC Bank, BoB, Bank of Maharashtra top picks: Analysts

upGrad Abroad to hire 500 freshers in 3 months to expand business

RBI holds conference for directors on boards of Private Sector Banks

Atomberg raises $86 million from Temasek, Steadview Capital & others

EXCLUSIVE | IT stocks' valuations not cheap, could turn out to be laggards in 18-24 months: Gaurav Dua, Sharekhan

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
© 2023. Indiadotcom Digital Private Limited. All Rights Reserved.
LIVE TV