© Reuters.
Investing.com — The Dow wrapped up a strong November, with swashbuckling gains on Thursday as investors cheered further a slowdown in inflation and mostly better than expected corporate earnings.
By 16:00 ET (21:00 GMT), the rose 520 points, or 1.5%, the rose 0.4%, while the fell 0.2%.
The blue-chip rose 8% in November, its best month since October last year. The broad-based was up nearly 9% in November, while the tech-heavy Nasdaq jumped 10.7%, with both indexes delivering their best monthly performances since July 2022.
Inflation continues to slow, but Treasury yields climb
The October personal consumption expenditures price index, the Fed’s preferred measure of inflation, slowed to a 0% pace, compared with forecasts for a 0.1%, from a 0.4% last month, taking the annualized figure to 3.4%, down from 3.7% the prior month.
Core PCE inflation, which the Fed believes is a more accurate gauge of underlying inflation slowed to a 3.5% pace from 3.7% the prior month.
The slowing pace of inflation comes even as the labor market appears strong than expected as initial jobless claims climbed by less than expected.
Treasury yields shrugged of…
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