The stock market was cruising on Wednesday as Wall Street increasingly bet on a December rate cut, but sticky inflation could present challenges in 2025.
The Nasdaq Composite was up 1.8%, on track for a record close after crossing 20,000 for the first time. The S&P 500 was up 0.9% and within striking distance of its highest close on record. The Dow was waffling between positive and negative territory because of a slide in UnitedHealth shares that weighed heavily on the index.
The consumer price index for November rose at a 2.7% annual rate, which matched economist expectations.
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