Market Snapshot: S&P 500 futures extend rally amid signs of cooling inflation

by | Nov 15, 2023 | Stock Market

U.S. stock futures suggest Wall Street will extend the strong rally sparked by diving bond yields after soft inflation data bolstered hopes the Federal Reserve will be reducing borrowing costs next year.How are stock-index futures trading
S&P 500 futures
rose 11 points, or 0.2%, to 4522

Dow Jones Industrial Average futures
gained 66 points, or 0.2%, to 34954

Nasdaq 100 futures
added 55 points, or 0.3%, to 15935

On Tuesday, the Dow Jones Industrial Average
rose 490 points, or 1.43%, to 34828, the S&P 500
increased 84 points, or 1.91%, to 4496, and the Nasdaq Composite
gained 327 points, or 2.37%, to 14094.

What’s driving markets Early futures trading Wednesday shows the S&P 500 adding to the previous session’s 1.9% surge, which marked its best daily percentage gain since April. The rally, which pushed the Wall Street stock barometer back above its 100-day moving average, took its gains for the month to 7.2% and 17.1% for the year, came after a consumer price index report showed inflation in October surprisingly flatlined. The annual pace of CPI inflation also was cooler than expected at 3.2%. The signs of easing price pressures has raised hopes that not only is the Federal Reserve now finished raising interest rates for this cycle, but it is …

Article Attribution | Read More at Article Source

Share This