Stocks - Wall Street Rises After CPI Data

Stocks - Wall Street Rises After CPI Data

Investing.com  | Nov 14, 2018 09:38AM ET

Stocks - Wall Street Rises After CPI Data

Investing.com – Wall Street rose on Wednesday, as core retail inflation numbers eased the pressure on the Federal Reserve for faster pace of rate hikes.

The S&P 500 rose 21 points, or 0.80%, to 2,743.84 as of 9:36 AM ET (14:36 GMT), while the Dow increased 173 points, or 0.68%, to 25,449.50 and the tech-heavy Nasdaq Composite was up 76 points, or 1.06%, to 7,277.52.

Data on Wednesday showed that the annual core consumer price index (CPI) rose 2.1%, which was less than expected.

Core prices are viewed by the Federal Reserve as a better gauge of longer-term inflationary pressure because they exclude the volatile food and energy categories. The central bank usually tries to aim for 2% core inflation or less.

Technology stocks were higher after the morning bell. Chinese e-commerce giant Alibaba (NYSE:BABA) rose 2.42% while Amazon.com (NASDAQ:AMZN) increased 1.92% and Facebook (NASDAQ:FB) gained 1.37%. Tesla (NASDAQ:TSLA) was up 1.86%, while Twitter (NYSE:TWTR) jumped 2.62%.

Macy’s (NYSE:M) surged 2.52% after the retail company’s earnings came in higher than expected.

Elsewhere, Snap (NYSE:SNAP) fell 1.94% after it received subpoenas regarding information about is 2017 initial public offering. Medical marijuana company Tilray (NASDAQ:TLRY) slumped 4.09% after it reported a decline in average selling prices, while Cronos Group (NASDAQ:CRON) dipped 2.77% after it posted a loss despite a revenue increase.

In commodities, gold futures rose 0.15% to $1,201.00 a troy ounce, while crude oil rallied 1.87% to $56.73 a barrel on news that OPEC could curb its production. The U.S. dollar index, which measures the greenback against a basket of six major currencies, fell 0.27% to 96.88.

Related News

Latest comments

Add a Comment
Please wait a minute before you try to comment again.
Malik Hassan
Malik Hassan

What effects on gold?  ... (Read More)

Nov 14, 2018 03:19PM GMT· Reply
Curtis Watts
Curtis Watts

Beware: Dead Cat Bounce. Market will take a steep decline once again in the next day or two. This bounce is not sustainable.  ... (Read More)

Nov 14, 2018 02:51PM GMT· 1 · Reply
Discussion
Write a reply...
Please wait a minute before you try to comment again.

Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.

English (UK) English (India) English (Canada) English (Australia) English (South Africa) Deutsch Español (España) Español (México) Français Italiano Nederlands Português (Portugal) Polski Português (Brasil) Русский Türkçe ‏العربية‏ Ελληνικά Svenska Suomi עברית 日本語 한국어 中文 香港 Bahasa Indonesia Bahasa Melayu ไทย Tiếng Việt हिंदी
Sign out
Are you sure you want to sign out?
NoYes
CancelYes
Saving Changes

+