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Stock market today: Dow, S&P 500, Nasdaq rise as CPI inflation eases in November, Micron boosts tech
Stocks jumped following the latest reading on consumer inflation that could help set expectations for the path of interest rates.
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Major stock indexes surged Thursday after delayed Consumer Price Index data came in better than expected, with the blue-chip Dow Jones Industrial Average and benchmark S&P 500 poised to end four-session losing streaks.
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At least eight of the 30 Dow Jones components rose three points or more. They included Visa V, Goldman Sachs GS and American Express AXP. Paint giant Sherwin-Williams SHW ramped up more than four points, nearly 2%, following the Federal Reserve's decision to trim interest rates.
US stock futures rose Thursday as investors awaited key CPI inflation data. Nasdaq futures led gains, supported by Micron’s strong AI-driven earnings outlook. Micron shares jumped premarket, lifting Nvidia and Tesla in early trading.
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The Dow Jones Industrial Average is a points-based average, so higher-priced stocks generally hold more sway on the overall index change. In terms of percentage losses, just four Dow Jones stocks fell 1% or more.