Wall Street Reaches Highest Level Since 2022 as Inflation Remains Stable

Wall Street rose to its highest level since early 2022, just below its record high, following a report that indicated inflation in the United States is behaving as expected. The S&P 500 climbed 0.5 percent on Tuesday, while the Dow and Nasdaq composite rose by 0.5 percent and 0.7 percent, respectively. Treasury yields were mixed after the November update on inflation matched economists’ expectations.

Expectations for Federal Reserve’s Interest Rates Decision

Traders anticipate that the Federal Reserve will maintain interest rates when it announces its next move on Wednesday afternoon. However, the report has cast some doubt on when rates may come down.

Market Performance on Tuesday

• The S&P 500 rose 21.26 points, or 0.5 percent, to 4,643.70.
• The Dow Jones Industrial Average rose 173.01 points, or 0.5 percent, to 36,577.94.
• The Nasdaq composite rose 100.91 points, or 0.7 percent, to 14,533.40.
• The Russell 2000 index of smaller companies fell 2.41 points, or 0.1 percent to 1,881.27.

Year-to-Date Performance

As of now, the S&P 500 is up 39.33 points, or 0.9 percent for the year. The Dow has gained 330.07 points, or 0.9 percent, while the Nasdaq has increased by 129.42 points, or 0.9 percent. The Russell 2000 has seen a minimal gain of 0.45 points, or less than 0.1 percent.

Year-to-Date Performance Comparison

Comparing the year-to-date performance, the S&P 500 has surged by 804.20 points, or 20.9 percent. The Dow has experienced a significant increase of 3,430.69 points, or 10.3 percent, and the Nasdaq has soared by 4,066.91 points, or 38.9 percent. The Russell 2000 has seen a modest gain of 120.02 points, or 6.8 percent.

The views and opinions expressed in this article are those of the authors and are meant for general informational purposes only. They should not be construed or interpreted as a recommendation or solicitation. The Epoch Times does not provide investment, tax, legal, financial planning, estate planning, or any other personal finance advice. The Epoch Times holds no liability for the accuracy or timeliness of the information provided.