Stocks Post Strongest Monthly Gain in Over a Year As Inflation Cools and Earnings Beat Expectations
• Stocks closed higher Thursday, ending November with biggest monthly gain in over a year; S&P 500 up 8.9% for the month • Gains driven by hopes Fed is done raising rates to fight inflation along with falling Treasury yields • Inflation data showed prices unchanged in October; lowest year-over-year inflation rate in over 2 years • Strong corporate earnings reports gave investors confidence in economic outlook • Oil and gasoline prices falling, relieving pressure on consumers