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Stock Market Today: Tech Stocks Rally as CPI Supports Lower Rates

Stock Market Today: Tech Stocks Rally as CPI Supports Lower Rates


Published on 2024-12-11 18:01:07 - Kiplinger
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  • Core CPI, which excludes food and energy costs and is considered a better indicator of future prices, also matched estimates. The gauge increased 0.3% in November, or the same rate seen over the previous three months. Annual core CPI advanced 3.3% to match consensus expectations.

The article from Kiplinger discusses the stock market's reaction to the latest Consumer Price Index (CPI) data, which showed a slight increase in inflation but still supported expectations for lower interest rates. Tech stocks, in particular, rallied with the Nasdaq Composite leading the gains, up by 1.4% in afternoon trading. This surge was driven by optimism that the Federal Reserve might cut rates sooner than anticipated, given the CPI's indication of cooling inflation. Notable performers included companies like Nvidia, which saw a significant rise after announcing a new AI chip, and other tech giants like Microsoft and Apple also contributed to the market's upward movement. The broader market indices like the S&P 500 and Dow Jones Industrial Average also closed higher, reflecting a positive investor sentiment towards the prospect of a more dovish monetary policy.

Read the Full Kiplinger Article at:
[ https://www.kiplinger.com/investing/stocks/stock-market-today-tech-stocks-rally-as-cpi-supports-lower-rates ]
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