Nasdaq soars above 20,000 for the first time as stocks jump on rate-cut bets

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Nasdaq soars above 20,000 for the first time as stocks jump on rate-cut bets

^{Published on 2024-12-11 22:21:59 - Business Insider}

Inflation data was in line with expectations. Stocks rose as investors saw higher odds of another rate cut at next week's Fed meeting.

The article from Business Insider discusses the U.S. stock market's reaction to the latest Consumer Price Index (CPI) data, which showed inflation cooling down to 3.1% year-over-year in November, slightly above the expected 3.0%. Despite this, core inflation, which excludes volatile food and energy prices, rose by 0.3% month-over-month, indicating persistent underlying price pressures. This mixed inflation report led to a volatile trading session where stocks initially rallied but later gave up some gains. Investors are now pricing in a lower probability of a Federal Reserve rate cut in March 2024, with expectations shifting towards a potential cut in May. The article also highlights comments from market analysts suggesting that while inflation is trending downwards, the path to the Fed's 2% target remains uncertain, influencing market sentiment and expectations for monetary policy adjustments.

Read the Full Business Insider Article at:
[ https://markets.businessinsider.com/news/stocks/stock-market-today-rally-cpi-inflation-data-fed-rate-cut-2024-12 ]

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