The Commerce Department reported that the core Personal Consumption Expenditures index rose 0.2% month-over-month in October, indicating that price increases might stabilize. Also, according to the latest job report, nonfarm payrolls increased by 263,000 for November, and average hourly earnings jumped 0.6% for the month, double the Dow Jones estimate.
Amid this, investors await another round of economic data as the Federal Reserve’s final rate-setting meeting this year approaches. The central bank has been aggressively raising interest rates since March to tame inflation.
