Published on 20 Dec 2024 on Benzinga
...On Soft Inflation Data, Bonds Rebound, Travel Stocks Surge: What's Driving...
Risk sentiment returned to Wall Street on Friday, revitalized by softer-than-expected November inflation data leading to a strong market rebound following the selloff triggered by the Federal Reserve’s recent meeting.
The Personal Consumption Expenditure price index rose 2.4% year-over-year in November, falling short of the 2.5% increase forecasted. The core PCE, a key gauge closely watched by the Fed, also missed expectations, rising 2.8% compared to the anticipated 2.9%.