US Inflation Data Boosts Wall Street Stocks
Wall Street stocks rise with US inflation data and bond yields decline.
SUMMARY
Wall Street stocks saw a notable increase following US inflation data indicating a slowdown, which eased investor concerns in the technology sector and led to a decline in US bond yields.
KEY HIGHLIGHTS
- Micron Technology's stock climbs 15.72% after strong earnings.
- Consumer Price Index rises 0.2%, core inflation reaches 2.6%.
- US bond yields fall for two-year, ten-year, and thirty-year maturities.
CORE SUBJECT
Impact of US inflation data on stock and bond markets
Micron Technology's stock rose 15.72% to $259.21 after the company announced earnings that exceeded expectations.
The results helped ease investors' concerns about technology company valuations, as Nvidia's stock increased 1.6% to $173.7 and Broadcom's rose 1.53% to $331.25.
The Consumer Price Index rose 0.2% seasonally adjusted over the two months from September to November, while the core inflation index, which excludes food and energy prices, increased by the same percentage, bringing its annual rate to 2.6%.
From September to November, the housing index rose 0.2%, the energy index increased 1.1% during the same period, and the food index went up 0.1%.
US bond yields declined as markets assessed data showing a slowdown in inflation in the United States.
The yield on two-year bonds fell 3.8 basis points to 3.447%, the ten-year bond yield dropped 3.9 basis points to 4.112%, and the 30-year bond yield decreased 3 basis points to 4.798%.
KEYWORDS
MENTIONED ENTITIES 4
Micron Technology
BusinessTechnology company that announced earnings exceeding expectations
Nvidia
BusinessTechnology company whose stock rose after inflation data
Broadcom
BusinessTechnology company whose stock rose after inflation data
United States
📍 Location_CountryCountry from which the inflation data was released