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Nasdaq soars as cooling inflation spurs bets of smaller rate hikes

The tech-heavy Nasdaq surged 5% on Thursday as data showed U.S. consumer prices increased less than expected in October, spurring hopes that the Federal Reserve might scale down the size of its future interest rate hikes. The Labor Department said consumer prices advanced 7.7% in the 12 months through October, while the core rate, which excludes volatile food and energy prices, increased 6.3% on a year-on-year basis last month. Economists polled by Reuters had expected the CPI and core number ...
New York United States New York Stock Exchange Robert Pavlik Shounak Dasgupta Sruthi Shankar
Source: aol.com

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