U.S. stocks rebound as inflation data boosts sentiment
U.S. stocks rebounded with the Nasdaq up 1.4% after inflation data showed 2.7% annual growth. Micron shares rose 7% on revenue guidance of $18.70 billion, easing semiconductor sector concerns and boosting market sentiment.
after close1 source ↓written by the desknot a recommendation
- following cooler-than-expected inflation
- 1.4%
- annually in November
- 2.7%
- on revenue guidance
- 7%
- revenue guidance
- $18.70 billion
U.S. stocks rallied on Thursday, with the Nasdaq Composite jumping 1.4% following cooler-than-expected inflation data. The Labour Department reported consumer price growth at 2.7% annually in November, enhancing expectations for future Federal Reserve rate cuts.
Micron shares surged 7% on revenue guidance of $18.70 billion, exceeding estimates, which alleviated concerns in the semiconductor sector. This rebound reflects a positive shift in market sentiment amidst geopolitical uncertainties.
Not investment advice. For informational purposes only.