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A trader works on the trading floor at the New York Stock Exchange (NYSE) in Manhattan, New York City, U.S., Nov. 11, 2022. Reuters-Yonhap |
Wall Street stocks rose again Thursday after U.S. data showed a moderation in inflation as markets looked ahead to earnings reports from large banks.
The consumer price index last month rose 6.5 percent from a year ago, according to data released Thursday, the smallest increase since October 2021 and the sixth straight month of easing.
The report was in line with projections and added to expectations that the Federal Reserve will pivot from a series of ultra-aggressive interest rate increases.
Several analysts issued reports predicting the Fed would raise interest rates by quarter percentage point in February, down from the half percentage point hike in December.
Ryan Sweet, chief U.S. economist at Oxford Economics, called the report "another small step in the right direction."
The Dow Jones Industrial Average finished up 0.6 percent at 34,189.97.
![US inflation eased again to 6.5% over the past 12 months](http://img.koreatimes.co.kr/upload/thumbnailV2/4faa03a1d778400cbabcdfc3b2baea87.jpg/dims/resize/84/optimize)