The U.S. stock market extended its winning streak for the fourth consecutive day as investors kept a watchful eye on the impending consumer price index (CPI) report, scheduled for release on October 12. On October 11, 2023, major indices experienced substantial gains.
The Dow Jones Industrial Average, a bellwether for market performance, climbed by 65.57 points, or 0.19%, closing at 33,804.87. Meanwhile, the S&P 500, a broader gauge of market health, posted robust gains, surging by 18.71 points, or 0.43%, and closing at 4,376.95. The tech-heavy Nasdaq Composite Index, known for its growth stocks, showed remarkable strength, registering an increase of 96.83 points, or 0.71%, to conclude the trading day at 13,659.68.
These impressive market movements come on the heels of a tense atmosphere as traders eagerly await the CPI report. This essential economic indicator will shed light on inflation trends, which have been a focal point for investors and policymakers alike in recent months. It is expected to provide crucial insights into the state of the U.S. economy and the potential course of monetary policy.
Investors will continue to closely monitor these developments as the U.S. stock market maintains its resilience amid economic uncertainties.
