Traders work on the floor of the New York Stock Exchange (NYSE) on March 28, 2023 in New York City.
Traders work on the floor of the New York Stock Exchange (NYSE) on March 28, 2023 in New York City.
  • US stocks saw an impressive rally as the latest CPI data surprised investors with an inflation slowdown.
  • Markets are betting that this is enough to stop Fed interest hike in December. 
  • Bond yields dropped dramatically, with the 10-year rate plummeting over 19 basis points.

US stocks shot up on Tuesday, as markets rallied around October's Consumer Price Index report, which surprised investors with softer-than-predicted inflation data.

The Dow Jones Industrial Average surged 489 points, while the S&P 500 and Nasdaq rose 1.9% and 2.4% respectively.