(Tuesday market close) The S&P 500® index (SPX)...
(Tuesday market close) The S&P 500® index (SPX) and other U.S. equity benchmarks extended gains Tuesday to reach the highest levels since early 2022 as investors shrugged off slightly higher-than-expected inflation readings and Federal Reserve policy leaders began a two-day meeting that's expected to end with no increase in benchmark interest rates.
Early Tuesday, the Labor Department said the overall Consumer Price Index (CPI) rose 0.1% in November from October, contrary to expectations the headline number would hold unchanged. Core CPI, which strips out food and energy, met expectations with a 0.3% increase.
Here's where the major benchmarks ended:
TheS&P 500 index was up 21.26 points (0.5%) at 4,643.70; the Dow Jones Industrial Average®(DJI) was up 173.01 points (0.5%) at 36,577.94; the Nasdaq Composite® (COMP) was up 100.91 points (0.7%) at 14,533.40.
The 10-year Treasury note yield (TNX) was down about 3 basis points at 4.206%.
The Cboe® Volatility Index(VIX) was down 0.56 at 12.07.
Labor Department data show average hourly pay for frontline oil and natural gas workers climbed 1.3%...
Labor Department data show average hourly pay for frontline oil and natural gas workers climbed 1.3% month over month and 5.4% year over year to a record $44.11 in October. Analysts expect US oil producers to keep capital spending at levels similar to this year, with Evercore ISI projecting a modest 2% increase to around $115 billion in 2024.
Netanyahu and Biden Voice Divisions Over War’s Next Steps
A divide between Israel and the United States,...
A divide between Israel and the United States, its closest ally, burst into the open on Tuesday as President Biden warned that Israeli leaders were losing international support for their war in Gaza and Prime Minister Benjamin Netanyahu rejected out of hand the American vision for a postwar Middle East.
With civilians in Gaza being killed at a historic rate in the Israel assault, Mr. Biden warned in an address in Washington that the international community was turning against the Israeli government.
Inflation data released on Tuesday showed that price increases remained moderate in November, the latest sign that inflation has cooled substantially from its peak. That’s likely to keep the Federal Reserve on track to leave interest rates unchanged at its final meeting of the year, which takes place this week.
The Consumer Price Index came out just as the Fed begins its two-day gathering, which will conclude with the release of an interest rate decision and a fresh set of quarterly economic projections at 2 p.m. on Wednesday. Jerome H. Powell, the Fed chair, is then scheduled to hold a news conference.
Macy's shares up 20% after $5.8B buyout offer from Arkhouse Management and Brigade...
Macy's shares up 20% after $5.8B buyout offer from Arkhouse Management and Brigade Capital Management (More) | Occidental Petroleum to buy Permian oil producer CrownRock for $12B, including debt; deal expected to close in 2024 (More)
The Texas Supreme Court ruled against a woman who sued for permission to get an abortion after her fetus was diagnosed with a fatal condition. But even before the ruling came out, she decided to leave the state for the procedure.
Harvard President Claudine Gay is facing calls for her ouster after her disastrous appearance at a congressional hearing on campus antisemitism (UPenn’s president, who also appeared at the hearing, has resigned), but more than 600 faculty members also signed a letter to support her.
Shohei Ohtani will receive only $2 million of his historic $70 million annual salary from the Dodgers per year, having deferred the rest until later so the team can have more flexibility in hiring.
Paramount+ will officially become a linear cable channel next month, when Showtime gets rebranded as “Paramount+ with Showtime,” a name that’s already being used on the streaming side. As names go, it’s still better than just Max, we guess.
Presidential hopeful Vivek Ramaswamy seems to have given listeners an unexpected kind of live stream, after getting caught on a hot mic apparently using the bathroom during a X Spaces event featuring Elon Musk, Alex Jones, Andrew Tate, and others.
