Stocks Soar as Inflation Cools, Fed Rate Hike Bets Fade
- US stocks rallied on softer-than-expected October CPI data
- Dow jumped 489 points, S&P 500 rose 1.9%, Nasdaq gained 2.4%
- Data bolsters hopes Fed may pause rate hikes, avoiding recession
- 10-year Treasury yield plunged nearly 20 basis points to 4.439%
- Market bets on December rate hike dropped from 14% to 0%