Stocks Have Best CPI Day in a Year

Inflation in the US, as measured by the change in the Consumer Price Index, declined to 3.2% on a yearly basis in October, the US Bureau of Labor Statistics reported on Tuesday.

CPI
• YoY: 3.2% vs 3.3% est; 3.7% prior
Core CPI
• YoY: 4.0% vs 4.1% est; 4.1% prior

Market reaction to US CPI data

The US Dollar came under heavy selling pressure with the immediate reaction. The benchmark 10-year US Treasury bond yield was down nearly 3% on the day at around 4.5%. The $S&P 500 Index (.SPX.US)$ and $Nasdaq Composite Index (.IXIC.US)$ posted their biggest daily percentage gains since April 27 on Tuesday

By 16:00 ET, the $Dow Jones Industrial Average (.DJI.US)$ was up 489 points or 1.4%, while the S&P 500 was up 1.9% and the NASDAQ Composite was up 2.4%.

What does the Fed do now?

The odds the Federal Reserve holds interest rates steady through its next two meetings jumped after October’s consumer price index came in cooler than expected.
Odds of a Fed rate hike at the December meeting went from 14% to 0% after the CPI report.

$S&P 500 Index (.SPX.US)$ $Dow Jones Industrial Average (.DJI.US)$ $Nasdaq Composite Index (.IXIC.US)$ $SPDR S&P 500 ETF (SPY.US)$ $Invesco QQQ Trust (QQQ.US)$ $ProShares UltraPro Short QQQ ETF (SQQQ.US)$ $Apple (AAPL.US)$ $AMC Entertainment (AMC.US)$ $Tesla (TSLA.US)$

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Simon Lee8 : The bull market has begun

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73791070 : it's definitely not over we pushing Infinity and beyond light years dummy #bhahkti_did_it_to_again

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efficentupup

True and timely

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