CPI Data Sends Stocks Higher Ahead of Fed Decision

The Federal Reserve will announce the latest policy decision tomorrow

Deputy Editor
Dec 13, 2022 at 4:32 PM
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While stocks steadily pulled back from this morning's surge, all three major benchmarks still finished the day comfortably higher. The Dow and Nasdaq tacked on triple digits for the second-straight day, while the S&P 500 reclaimed 4,000. November's cooler-than-expected consumer price index (CPI) reading spearheaded the positive sentiment, though investors are now looking ahead to tomorrow's rate-hike decision from the U.S. Federal Reserve. Elsewhere, Wall Street's "fear gauge," the Cboe Volatility Index (VIX), logged its largest percentage drop since Nov. 10. 

Continue reading for more on today's market, including:

  • Moderna stock soared after upbeat trial data. 
  • How options traders scored a 200% profit with Sea stock. 
  • Plus, the state of the options industry; PINS upgraded; and analyst sees headwinds for AFRM. 

Closing Indexes Summary Dec 13

NYSE and Nasdaq Stats Dec 13

5 Things to Know Today 

  1. Meta Platforms Inc (META) has its sights set on popular social media platform BeReal, as the company is testing out similar features via Instagram. (MarketWatch)
  2.  U.S. prosecutors charged Sam Bankman-Fried, the founder and former CEO of FTX, with fraud. (Reuters)
  3. The latest Schaeffer's Market Mashup looks at options trends. 
  4. Unpacking Pinterest's upgrade from Piper Sandler. 
  5. Options traders loaded up fintech stock after bear note. 

no earnings of note today

Unusual Options Activity Dec 13

Gold Prices Hit Highest Levels Since June

Oil prices rose for the second day as the oil market prepares for a major cold front. West Texas Intermediate (WTI) crude for January delivery added $2.22, or 3%, to settle at $75.39 a barrel on the New York Mercantile Exchange.

Gold prices surged after today's CPI data. February-dated gold rose $33.20, or nearly 1.9%, to settle at $1,825.50 per ounce -- the highest finish for a front-month contract since late June.  


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