“Dow Jones Surges 900 Points On Cool Inflation Data; Treasury Yields Dive”
November 10, 2022
“The Dow Jones Industrial Average briefly surged 900 points Thursday after the closely watched consumer price index, or CPI, inflation gauge came in cooler than expected. The 10-year Treasury yield dived to 3.87% Thursday after the cooler-than-expected CPI reading.
Meanwhile, electric-vehicle stocks Nio (NIO) and Rivian Automotive (RIVN) raced higher after their quarterly earnings results. Good afternoon everyone and welcome to stock market today.
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The Labor Department’s consumer price index showed prices rose 0.4% in October, cooler than estimates that expected a 0.7% rise vs. the previous month. Consumer inflation rose 7.7% year over year, lower than the projected 8.0% increase.
Meanwhile, first-time unemployment claims revealed initial claims rose to 225,000 vs. 217,000 in the previous week…”