SPECIAL REPORT The Top 7 Stocks for 2024

Why Are Stocks Up Today?

Advertisement

  • Stocks are up today and we know why!
  • Investors are hoping the Fed is done with interest rate increases.
  • This follows the release of the latest wholesale inflation data for September.
Stocks Up Today - Why Are Stocks Up Today?

Source: photo.ua / Shutterstock.com

Stocks are up today as investors are hopeful that the Federal Reserve is finally done with interest rate increases.

This is despite wholesale inflation increasing by 2.2% year-over-year in September. That marks the largest such increase tracked in the reports since April. While rising inflation may cause concern about increasing interest rates, that’s not happening this time around.

Instead, investors look to bond yields as the reason the Fed is likely to leave interest rates alone for now. Bond yields underwent a spike this month, and some traders believe that increase will be enough to ease concerns that the Fed has about the economy. That is also serving as a positive catalyst that has stocks up today.

Of course, investors are also hoping to glean additional insight from the Fed itself. The agency is set to release minutes from its September meeting today. Also, additional economic data will be made available tomorrow when the September Consumer Price Index (CPI) data is released.

Let’s check out how this news is affecting the major stock indices below.

Stock Indices Up on Wednesday

  • Starting us off is the S&P 500, with a 0.25% increase as of Wednesday morning.
  • Next on our list is the Dow Jones Industrial Average, with a 0.22% gain as of this writing.
  • Finally, the Nasdaq Composite is climbing 0.5% higher on Wednesday morning.

Investors seeking out even more of the most recent stock market stories for today are going to want to stick around!

We have all of the biggest stock market news that traders need to know about on Wednesday! Among that is what’s boosting SoFi (NASDAQ:SOFI) stock today, Walgreens (NASDAQ:WBA) getting a new CEO and Pioneer Natural Resources (NYSE:PXD) stock jumping on merger plans. You can check out the links below to catch up on all of this news!

More Wednesday Stock Market News

On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.


Article printed from InvestorPlace Media, https://investorplace.com/2023/10/why-are-stocks-up-today-oct-11th/.

©2024 InvestorPlace Media, LLC