Dow futures rocket higher by 700 points after lighter-than-expected inflation report
Stock futures jumped after a lighter-than-expected consumer prices report for November raised expectations that inflation is peaking.
Futures tied to the Dow Jones Industrial Average gained 761 points, or 2.2%, in a sudden move right after the inflation numbers hit. S&P 500 and Nasdaq-100 futures added 2.8% and 3.9%, respectively.
The consumer price index rose just 0.1% from the previous month, and increased 7.1% from a year ago, the Labor Department reported Tuesday. Economists surveyed by Dow Jones had been expecting a 0.3% monthly increase and a 7.3% 12-month increase. Excluding volatile food and energy prices, so-called core CPI rose 0.2% on the month and 6% on an annual basis, compared to respective estimates of 0.3% and 6.1%.
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Stock futures jumped after a lighter-than-expected consumer prices report for November raised expectations that inflation is peaking.
Futures tied to the Dow Jones Industrial Average gained 761 points, or 2.2%, in a sudden move right after the inflation numbers hit. S&P 500 and Nasdaq-100 futures added 2.8% and 3.9%, respectively.
The consumer price index rose just 0.1% from the previous month, and increased 7.1% from a year ago, the Labor Department reported Tuesday. Economists surveyed by Dow Jones had been expecting a 0.3% monthly increase and a 7.3% 12-month increase. Excluding volatile food and energy prices, so-called core CPI rose 0.2% on the month and 6% on an annual basis, compared to respective estimates of 0.3% and 6.1%.
https://www.google.com/amp/s/www.cn.../stock-market-futures-open-to-close-news.html