Stocks Uneven as Inflation Cools and Oil Rises on OPEC Cuts
- US stocks mixed as Fed's preferred inflation gauge, PCE index, cools in line with expectations
- Dow jumps 0.8% while S&P dips 0.1% and Nasdaq falls 0.6%
- Oil prices rise as OPEC+ agrees to cut output by 1 million barrels per day
- Pending home sales hit 20-year low in October as mortgage rates deter buyers
- Fed's preferred core PCE inflation falls to 3.5% year-over-year, lowest since March 2021