Stock market today: Dow, S&P 500, Nasdaq rise as inflation print keeps Fed rate cut on track

Published On Nov 13, 2024, 2:15 PM

US stocks have seen an uptick as investors react to recent consumer inflation data, which aligns with forecasts and suggests a Federal Reserve rate cut in December. Major indices, including the Dow Jones, S&P 500, and Nasdaq, experienced gains. Bitcoin also surged, reaching record highs. AMD announced layoffs of 4% of its workforce as part of a strategy to focus on growth initiatives, which impacted its stock positively. Disney is set to report earnings, reflecting its hopes for improved performance in its streaming and parks segments. Meanwhile, inflation remains a concern with fresh data showing a steady increase in consumer prices, which may impact the Fed's future rate decisions.