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U.S. Stocks Surge to Record on Fed Rate Bets: Markets Wrap

  • Consumer prices jump to highest since 1982 as expected
  • Dollar, U.S. Treasury yields dip after report; gold gains
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Beyond the Bell 12/10/21Source: Bloomberg
Updated on

U.S. stocks rose to a record Friday after in-line inflation data spurred bets the Federal Reserve won’t have to accelerate plans to tighten monetary policy.

The S&P 500 gained 1% and Nasdaq 100 added 1.1% as the headline rate came in at 6.8%, as expected, which is the highest since 1982. Meanwhile, the yield on the U.S. 10-year Treasury fell to 1.49% as traders trimmed bets on the pace of Fed tightening.