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.
![Stocks Have Best CPI Day in a Year](https://ussnsimg.moomoo.com/feed_image/70040946/043d4705a4d8342c86a66635d75140fe.jpg/bigmoo)
• YoY: 3.2% vs 3.3% est; 3.7% prior
• YoY: 4.0% vs 4.1% est; 4.1% prior
![Stocks Have Best CPI Day in a Year](https://ussnsimg.moomoo.com/feed_image/70040946/1bf741802e6f362aa45dccbd0fbe3b5f.png/bigmoo)
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
![Stocks Have Best CPI Day in a Year](https://ussnsimg.moomoo.com/feed_image/70040946/d452a183a84b3b2b8baf8f0483b08f5c.png/bigmoo)
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?![]()
![]()
![Stocks Have Best CPI Day in a Year](https://ussnsimg.moomoo.com/feed_image/70040946/87c0dd900df731b2b4370d38dcc6fdb1.jpg/bigmoo)
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.
Odds of a Fed rate hike at the December meeting went from 14% to 0% after the CPI report.
![Stocks Have Best CPI Day in a Year](https://ussnsimg.moomoo.com/feed_image/70040946/45fa5f6a23623706940180f21a88d64f.jpg/bigmoo)
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only.
Read more
Comment
Sign in to post a comment
Simon Lee8 : The bull market has begun
73791070 : it's definitely not over![joy 😂](https://static.moomoo.com/nnq/emoji/static/image/img-apple-64/1f602.png)
![joy 😂](https://static.moomoo.com/nnq/emoji/static/image/img-apple-64/1f602.png)
![joy 😂](https://static.moomoo.com/nnq/emoji/static/image/img-apple-64/1f602.png)
we pushing Infinity and beyond light years dummy #bhahkti_did_it_to_again