Stocks rallied Tuesday, building on their strong November gains, as Wall Street cheered new U.S. inflation data that raised hope of the Federal Reserve wrapping up its rate-hiking campaign.
The Dow Jones Industrial Average jumped 512 points, or 1.5%, marking its second 500-point gain this month. The S&P 500 rallied 1.9%, briefly trading above the key 4,500 level. The Nasdaq Composite also traded 2.3% higher.
Tuesday’s gains added to an already stellar performance this month for stocks. The S&P 500 and Dow are up 7.3% and 5.4%, respectively, in November. The Nasdaq is up 9.4%, on pace for its biggest one-month gain since January.
The Dow Jones Industrial Average jumped 512 points, or 1.5%, marking its second 500-point gain this month. The S&P 500 rallied 1.9%, briefly trading above the key 4,500 level. The Nasdaq Composite also traded 2.3% higher.
Tuesday’s gains added to an already stellar performance this month for stocks. The S&P 500 and Dow are up 7.3% and 5.4%, respectively, in November. The Nasdaq is up 9.4%, on pace for its biggest one-month gain since January.
S&P 500 notches best day since April, Dow leaps nearly 500 points on soft inflation report: Live updates
Stocks surged Tuesday as investors cheered the latest U.S. consumer price index report.
www.cnbc.com