U.S. stocks rose following an encouraging report on inflation that could help the Federal Reserve keep cutting interest rates next year.
A strong profit report from Micron Technology also helped AI stocks halt their sharp slides on Thursday, at least for now. The S&P 500 gained 0.8% to break a four-day losing streak. The Dow Jones Industrial Average added 0.1%, and the strength for tech stocks sent the Nasdaq composite up 1.4%.
Treasury yields eased in the bond market after the report showed U.S. inflation was less bad last month than economists expected.
On Thursday:
The S&P 500 rose 53.33 points, or 0.8%, to 6,774.76.
The Dow Jones Industrial Average rose 65.88 points, or 0.1%, to 47,951.85.
The Nasdaq composite rose 313.04 points, or 1.4%, to 23,006.36.
The Russell 2000 index of smaller companies rose 15.57 points, or 0.6%, to 2,507.87.
For the week:
The S&P 500 is down 52.65 points, or 0.8%.
The Dow is down 506.20 points, or 1%.
The Nasdaq is down 188.81 points, or 0.8%.
The Russell 2000 is down 43.59 points, or 1.7%.
For the year:
The S&P 500 is up 893.13 points, or 15.2%.
The Dow is up 5,407.63 points, or 12.7%.
The Nasdaq is up 3,695.57 points, or 19.1%.
The Russell 2000 is up 277.71 points, or 12.5%.
The Associated Press
