US Stocks Rise as Inflation Cools Slightly, Rate Cut Hopes Persist
• US stocks edge higher after November CPI meets estimates; Dow gains 100+ points
• Declining oil and gasoline prices drive headline inflation down to 3.1% annually
• Core CPI remains stubbornly high at 0.3% monthly and 4% annually
• Shelter costs continue to increase, posing challenge for substantially lower inflation
• Markets expect Fed rate cuts in 2023 although economists say cuts could be delayed until September