Stocks rose Tuesday after the release of new U.S. inflation data, while traders awaited a key Federal Reserve policy decision. The Dow gained 0.31%. The S&P 500 rose 0.73%. The Nasdaq surged 1.01%.
. Economists surveyed by Dow Jones had been expecting a 0.3% monthly increase and a 7.3% rise over the past 12 months. Excluding volatile food and energy prices, so-called core CPI rose 0.2% on the month and 6% on an annual basis, compared to respective estimates of 0.3% and 6.1%.Investors are anticipating the Federal Reserve's next rate-hiking decision at the conclusion of its two-day policy meeting on Wednesday.
The Dow Jones Industrial Average climbed 103.6 points, or 0.3%, to 34,108.64. The S&P 500 added 0.73% to 4,019.65. The Nasdaq Composite rose 1.01% to 11,256.81. "When there is market moving data, whether a single stock's earnings release, or a macro report like CPI, it's always the market's reaction to the initial reaction that is most important," Krinsky wrote in a Tuesday note.
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