The stock market was set to build on records Wednesday inflation slowed in May, sending yields tumbling before the Federal Reserve’s June interest-rate decision.
Futures tied to the Dow Jones Industrial Average rose 344 points, or 0.9%. S&P 500 futures added 0.9% a day after the benchmark closed at a new record. Nasdaq 100 futures added 0.91%. The Nasdaq Composite also closed at a record Tuesday.
The consumer price index was unchanged for the month of May, lower than the Dow Jones estimate for a 0.1% monthly increase. Year over year, the inflation yardstick increased 3.3%, which also came in below expectations and a represented a slowing from the prior 3.4% pace. Monthly and yearly numbers for core CPI, which excludes the volatile prices associated with energy and food, were also lower than anticipated.
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Article URL : https://www.cnbc.com/2024/06/11/stock-market-today-live-updates.html