Market Watch: Stock Futures Rise as Inflation Fears Ease

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Stock futures rose Friday after China said it would ease some Covid measures, building on optimism from lighter-than-feared inflation data that fueled a broad market rally in the previous session.

Futures tied to the Dow Jones Industrial Average added 152 points, or 0.5%. S&P 500 futures were up 0.5% and Nasdaq 100 futures rose 0.7%.

“Elisha replied, “Listen to this message from the Lord! This is what the Lord says: By this time tomorrow in the markets of Samaria, six quarts of choice flour will cost only one piece of silver, and twelve quarts of barley grain will cost only one piece of silver.” 2 Kings 7:1

 

The major averages on Thursday posted their biggest one-day rallies since 2020. The Dow jumped more than 1,200 points. The S&P rose 5.5%, and the Nasdaq Composite surged about 7.4%.

All of the indexes are on pace for a winning week. The Dow is up 4% on a weekly basis, while the S&P and Nasdaq are on pace for increases of 4.9% and 6.1%, respectively. The three averages are also on track for a positive month.

The rally came after the Bureau of Labor Statistics reported a smaller-than-expected rise in consumer prices for the month of October, giving investors hope that inflation may be cooling. U.S. Treasury yields dropped after the data release, while tech stocks soared.

“Markets across the board are euphoric.

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