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Stocks Rise as Inflation Slows

Stocks closed higher on Thursday as the December consumer-price index showed that inflation continued to slow in line with forecasts.

Stock tickers
Stock tickers

The data reinforced market expectations that the Federal Reserve will move slower to raise rates in 2023 after last year's aggressive tightening.

The Dow Jones Industrial Average ended around 217 points higher, up 0.6%, near 34,190, according to preliminary figures. The S&P 500 finished with a gain of 0.3%, near 3,983, while the Nasdaq Composite advanced 0.6% to close near 11,001.