Stock Market Today: S&P 500 Sets Record Despite Sizzling Inflation
A white-hot November consumer price index report had the market seeking direction for most of Friday's session, but the bulls overcame the bears and the S&P 500 set new highs by the time the week's final closing bell rang.
The Bureau of Labor Statistics reported that headline inflation for November was up 0.8% month-over-month and 6.8% year-over-year – the latter was the highest such reading in 39 years. Core inflation (backing out volatile energy and food costs) was blistering as well, up 0.5% MoM and 4.9% YoY, the quickest rate in three decades.
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