The Consumer Price Index showed prices at the consumer level rose 0.4% in November, matching the forecast of economists. The core rate, which strips out food and energy, came in flat for November, versus the 0.1% increase that had been expected.
At the conclusion of the two-day FOMC meeting the Fed kept its fed funds target at a range of 0.00-0.25% and maintained the language of an “extended period” expected for the “exceptionally low” level of the federal funds rate. Details from Bloomberg...
The Dow Jones Industrial Average fell 11 points (0.1%) to close at 10,441, the S&P 500 Index added 1 point (0.1%) to 1,109, while the Nasdaq Composite gained 6 points (0.3%) to 2,207. Crude oil was $1.97 higher at $72.66 per barrel, and the Bloomberg gold spot price increased $12.18 to $1,137.38 per ounce.
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