The S&P 500 Index ($SPX) (SPY) Wednesday closed up +0.82%, the Dow Jones Industrials Index ($DOWI) (DIA) closed down -0.22%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed up +1.85%.
Stock indexes on Wednesday settled mixed, with the Nasdaq 100 posting a new record high and the Dow Jones Industrials falling to a 2-1/2 week low. The broader market moved higher on Wednesday after US November consumer prices came in right on expectations, bolstering the outlook for the Fed to cut interest rates by 25 bp at next week’s FOMC meeting. The chances of a Fed rate cut next week rose to 95% from 86% before the release of the Nov CPI report. Strength in megacap technology stocks Wednesday was also supportive of the overall market.
