Dow ends more than 200 points higher as inflation cools in line with forecasts
Stocks ended a choppy session with gains Thursday, finding support after the December consumer-price index showed inflation continued to slow, in line with forecasts, last month. The data appeared to reinforce market expectations the Federal Reserve will move slower to raise rates in 2023 after last year's aggressive tightening. Skeptics contend bulls are underestimating the Fed's resolve to hike the fed-funds rate, now at 4.25% to 4.5%, and above 5% and keep it there. The Dow Jones Industrial Average ended around 217 points higher, up 0.6%, near 34,190, according to preliminary figures. The S&P 500 finished with a gain of 0.3%, near 3,983, while the Nasdaq Composite advanced 0.6% to close near 11,001.
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