Stocks finished higher Wednesday, building on a blockbuster rally the previous session, as investors weighed another round of subdued inflation data. The October producer price index showed a decline in the headline figures, while the core reading, which strips out food and energy, rose 0.1%, down from a 0.3% gain in September. Stocks surged Tuesday, with the S&P 500 posting its largest, one-day percentage gain since Jan. 6 and finishing at a two-month high after a subdued consumer price index reading saw investors largely conclude the Federal Reserve’s rate-hiking cycle has come to an end and price in a series of 2024 rate cuts. The Dow DJIA on Wednesday rose around 164 points, or 0.5%, to close near 34,991, according to preliminary data, while the S&P 500 SPX rose 0.2% and the Nasdaq Composite COMP gained 0.1%.
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