US consumer price index matches expectations, pushing US stock index Nasdaq Composite to record high
At the end of the financial economic news session on December 11, the Nasdaq Composite Index increased by 1.77% to 20,034.89 points, recording an all-time high and closing at a record high. The S&P 500 Index increased by 0.82% to 6,084.19 points. Meanwhile, the Dow Jones Index decreased by 0.22% to 44,148.56 points.
The US consumer price index (CPI) in November matched expectations, rising 0.3% from October and up 2.7% year-on-year. The core CPI rose 0.3% in the month and up 3.3% year-on-year.
The market believes that although inflation increased more strongly than last month, it is still not enough for the Fed to decide to stop cutting interest rates at the next meeting.
The USD recovered to 106.24 points. The yield on 10-year US bonds increased to 4.286%
Financial economic news Spot gold contract increased 1% to 2,719.40 USD/ounce. Gold futures contract increased 1.4% to 2,756.4 USD/ounce.
The January 2025 silver contract price stopped at 32,662 USD/troy ounce, up nearly 1%; the platinum contract price stopped at 950.8 USD/troy ounce, up slightly 0.2%. The January 2025 copper contract price fell 0.3% to 4.2245 USD/pound.
Brent crude futures rose $1.841 to $73.52 a barrel. WTI crude futures rose $2.481 to $70.29 a barrel. EU ambassadors agreed on December 11 on a 15th round of sanctions against Russia over its war with Ukraine, Hungary's EU president said; WTI futures rose more than $1 a barrel after the sanctions were announced.
Additionally, U.S. gasoline and distillate inventories rose more than expected last week, according to the EIA, putting pressure on oil prices on Wednesday. Stay tuned. HVA to update and grasp the fastest information about the financial market every day.
