Stocks surged Wednesday morning, with major indices poised to snap a two-day losing streak, as cooler-than-expected inflation reinforced expectations for Federal Reserve rate cuts in 2025.
Futures on major U.S. indices rebounded sharply, with the S&P 500 climbing 1.1% by 9:00 a.m. ET, the Nasdaq 100 jumping 1.6%, and the Dow Jones Industrial Average rising 0.8%.
Small caps, as tracked by the iShares Russell 2000 ETF (NYSE:IWM), were up 1.2%.
Rate Cut Bets Gain Traction
The latest Consumer Price Index report showed inflation cooling more than anticipated in February.
Headline CPI eased to 2.8% year-over-year, coming in below the 2.9% forecast, while core CPI, which strips out food and energy prices, slowed to …
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