Wall Street Hails ‘First Really Meaningful Beat’ on Inflation
- ‘Bring on the relief rally’ on Fed nearing goals: Doty
- Data should ‘put a lid’ on Fed’s terminal rate: Hogan
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Wall Street’s growing optimism that the Federal Reserve will be able to ease up its tightening later this week was confirmed by inflation data for November that showed prices rose less than forecast. The US consumer price index increased 0.1% from the prior month and was up 7.1% from a year earlier. Core CPI posted the smallest monthly advanced in more than a year.
Stock futures on the S&P 500 jumped over 3%, while yields on 2-year Treasury bonds sank more than 20 basis points after the release.