The US stock market reacted positively to the latest inflation data, with the Dow Jones Industrial Average increasing by approximately 0.2% and the S&P 500 jumping by nearly 0.5%. The Nasdaq Composite also contributed to the market gains, rising roughly 0.8%.
This comes as consumer price data indicates a steady inflation rate, suggesting a potential interest rate cut by the Federal Reserve. The Consumer Price Index (CPI) rose by 2.7% year-over-year in November, meeting economists' expectations. On a core basis, prices rose by 0.3% from the previous month, maintaining an annual rate of 3.3%.
The potential devaluation of China's currency and Macy's stock performance were also notable factors influencing the market.
Overall, market sentiment remains cautiously optimistic, with investors closely monitoring inflation trends and the Federal Reserve's decisions. The interplay between domestic economic indicators and international developments will continue to shape market dynamics.