Report on Consumer Confidence Buoys Wall Street (Newser)

Report on Consumer Confidence Buoys Wall Street – By Newser Editors and Wire Services (Newser) / Nov 28, 2023

Member of Fed board of governors ‘increasingly confident’ about hitting inflation target

Stocks drifted to a mostly higher close Tuesday following a strong report on consumer confidence and growing hopes that the Federal Reserve is finished with its aggressive interest rate hikes.

• The S&P 500 rose 4.46 points, or 0.1%, to 4,554.89.
• The Dow Jones Industrial Average rose 83.51 points, or 0.2%, to 35,416.98.
• The Nasdaq composite climbed 40.73 points, or 0.3%, to 14,281.76 ..

Treasury yields fell after Christopher Waller, a member of the Federal Reserve’s Board of Governors, said he was ‘increasingly confident’ that the Fed could get inflation back down to its 2% target.

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