US markets close higher after CPI
Wall Street stocks shook off early weakness and finished higher on Tuesday, extending a rally following mixed inflation data. The consumer price index report showed a slight dip in overall inflation compared with October. But core inflation -- which excludes volatile food and energy components -- held steady, disappointing analysts who were hoping for a more decisive report. Still, stocks gained ground as the day progressed, lifting all three major indices to their highest level since early 2022. The Dow Jones Industrial Average finished up 0.5 percent at 36,577. The S&P 500 advanced 0.5 percent to 4,643, while the Nasdaq Composite Index jumped 0.7 percent to 14,533. "The strength is feeding on itself as we get toward the end of the year," said Tom Cahill of Ventura Wealth Management. "There's some portfolio managers that are getting exposure to the market, because they fear underperforming again next year," he said. Among individual companies, Hasbro fell 1.1 percent after the toymaker announced it was cutting nearly 1,000 more jobs, following a first round of cost-cutting that fell short of goals. Oracle plunged 12.4 percent after the software giant reported revenues that missed analyst expectations. Ford advanced 0.8 percent following a CNBC report that it will cut output of the F-150 Lightning lightning pickup by roughly half in 2024. Boeing added 0.2 percent as it reported an uptick in deliveries of its 737 MAX aircraft in November. (AFP)