Market

Dow Futures Soar Over 500 Points Following Positive CPI Report Release

Market Reacts Positively to Latest CPI Data

This Wednesday morning, US stock futures experienced a significant surge after the release of the latest Consumer Price Index (CPI) report. Despite a notable increase in gas prices, the inflation data aligned with expectations, indicating a stable economic outlook.

The core CPI, which excludes the more volatile food and energy prices, saw a 3.2% increase in December compared to the previous year. Overall, the CPI rose by 2.9% year on year, a figure that also met market expectations.

By 8:34 am ET, the Dow Jones Industrial Average had risen by 1.23%, or 510 points. The Nasdaq 100 and the S&P 500 also saw gains, increasing by 1.51% and 1.30% respectively. In the currency markets, the euro strengthened against the dollar, trading up by 0.37% to 1.03397.