US stocks rose on Thursday, with the S&P 500 gaining 0.8%, the Nasdaq climbing 1.4%, and the Dow Jones adding about 66 points, after latest data showed inflation rate unexpectedly decreased. The annual inflation in the US fell to 2.7% in November, the lowest since July, below market expectations of 3.1%.
Also, the core gauge fell to 2.6%, the lowest since March 2021. Although the figures remain noisy due to the absence of October data following the government shutdown, a sustained moderation in price pressures could pave the way for further Federal Reserve rate cuts next year. Consumer discretionary and information technology stocks led the gains, rising about 2% and more than 1%, respectively.
Shares of Micron Technology jumped about 10% after the company delivered better-than-expected fiscal first quarter earnings and revenue, alongside a strong outlook for the current period. Meanwhile, financials, consumer staples, energy, and real estate lagged behind.
Source: Trading Economi
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