Wall Street rose to its highest level since early 2022, just a bit below its record high, after a report showed inflation in the United States is behaving pretty much as expected.
The S&P 500 climbed 0.5 percent Tuesday. The Dow rose 0.5 percent, and the Nasdaq composite added 0.7 percent. Treasury yields were mixed after the November update on inflation roughly matched economists’ expectations.
Traders still expect the Federal Reserve to stand pat on interest rates when it announces its next move Wednesday afternoon. The report did cast some doubt on when rates may come down.
On Tuesday:
The S&P 500 rose 21.26 points, or 0.5 percent, to 4,643.70.
The Dow Jones Industrial Average rose 173.01 points, or 0.5 percent, to 36,577.94.
The Nasdaq composite rose 100.91 points, or 0.7 percent, to 14,533.40.
The Russell 2000 index of smaller companies fell 2.41 points, or 0.1 percent to 1,881.27.
For the year:
The S&P 500 is up 39.33 points, or 0.9 percent.
The Dow is up 330.07 points, or 0.9 percent.
The Nasdaq is up 129.42 points, or 0.9 percent.
The Russell 2000 is up 0.45 points, or less than 0.1 percent.
For the year:
The S&P 500 is up 804.20 points, or 20.9 percent.
The Dow is up 3,430.69 points, or 10.3 percent.
The Nasdaq is up 4,066.91 points, or 38.9 percent.
The Russell 2000 is up 120.02 points, or 6.8 percent.
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