Stocks continue rally, boosted by cooling inflation data
Los Angeles — Wednesday , Wall Street stocks continued to build on a strong rally the previous session, as encouraging inflation data gave renewed hope to investors.
The Dow Jones led gains, rising 0.47% to 34,991.21 in its fourth winning day.
The S&P 500 gained 0.16% to 4,502.88, while the tech-heavy Nasdaq Composite advanced 0.07% to end at 14,103.84.
The 10-year Treasury yield inched up slightly to 4.537% after dropping below 4.5% a day earlier.
The current surge on Wall Street is being driven by better-than-expected inflation data in which showed the CPI remain flat in October, spurring bets that the Federal Reserve will keep interest rates steady and could potentially start cutting them next year.
