Stocks climbed on Thursday as Wall Street reacted to fresh inflation data. The latest numbers were better than expected. The Dow Jones Industrial Average rose 202 points, or 0.4%. The S&P 500 increased by 0.7%, and the Nasdaq Composite was up by 1%.
Micron Technology saw a significant boost, jumping 15%. It beat Wall Street’s forecasts for its first fiscal quarter and gave a promising revenue outlook. This sparked renewed interest in artificial intelligence stocks, which had struggled recently.
The delayed report from November showed the annual inflation rate at 2.7%. Core inflation, which doesn’t include food and energy, was at 2.6%. Analysts had predicted higher numbers—3.1% for overall inflation and 3% for core inflation. The report, released after a government shutdown, lacked typical month-to-month data. The Bureau of Labor Statistics (BLS) stated they couldn’t gather all the needed information for October.
Despite the incomplete data, futures rose after news that initial jobless claims were lower than expected. Ulrike Hoffmann-Burchardi from UBS Global Wealth Management commented, “We believe the combination of Fed easing, resilient growth, and AI advances will boost equities both in the U.S. and globally.”
Just days before, the market had faced challenges. Key semiconductor stocks tied to AI had seen sharp declines, causing the S&P 500 and Dow to close down for four consecutive days. The Nasdaq fared even worse, dropping nearly 2%. Stocks like Oracle fell over 5% after a significant investor pulled out of a major data center project, raising concerns about the high costs in this area. Other chipmakers like Broadcom and Nvidia also faced declines.
Interestingly, even though some investors are moving away from tech stocks, the sector is projected to finish 2025 with about a 20% gain.
Overall, inflation results and news from the tech sector are shaping the market’s direction. With analysts keeping a close watch, the next moves will be crucial for both investors and the economy.
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