US benchmark equity indexes exhibited mixed results ahead of Wednesday's closing as official data revealed that consumer inflation accelerated in alignment with Wall Street's expectations last month. The Nasdaq Composite gained 1.8%, reaching 20,045.1, while the S&P 500 increased by 0.9% to hit 6,086.3.
Conversely, the Dow Jones Industrial Average experienced a slight decline of 0.1%, settling at 44,198. Among various sectors, communication services led the way in gains, whereas health care encountered the most substantial decrease. The US consumer price index rose 0.3% in November, an increase from the consistent 0.2% seen during the previous four months, as reported by the Bureau of Labor Statistics.
On an annual basis, inflation edged up to 2.7%, slightly above October's 2.6% rate. Both of these metrics corresponded with forecasts compiled in a Bloomberg survey. Looking ahead, the official producer prices report for November is expected to be released on Thursday. In the bond market, the US 10-year yield saw an increase of 4.6 basis points, reaching 4.27%, while the two-year rate rose by one basis point to 4.16%. In the corporate landscape, Adobe and Nordson are among the firms set to disclose their latest quarterly financial results following the market's closing bell. In commodity trading, West Texas Intermediate crude oil prices surged by 2.6%, reaching $70.39 a barrel. For those tracking the financial markets, the $US30 and $US500 indexes play a pivotal role..