Stocks Hit Near Record Highs Ahead of Fed Rate Decision As Inflation Cools Slightly
• Dow Jones closes at third highest level ever, just 0.6% below record, as investors await Fed decision on interest rates • Inflation cools slightly in January to 3.1% year-over-year, mostly in line with expectations • Stocks rally to fresh 2023 highs, with S&P 500 at highest since January 2022 after 6-week winning streak • Oracle shares plunge over 12% after revenue misses expectations in latest earnings • Macy's stock drops 8% as Wall Street reacts to buyout offer for the retailer