Megacap growth stocks Tesla (TSLA.O), Meta Platforms (META.O), Microsoft (MSFT.O) and Amazon.com (AMZN.O) gained for much of the session.
According to preliminary data, the S&P 500 (.SPX) gained 5.87 points, or 0.13%, to end at 4,467.77 points, while the Nasdaq Composite (.IXIC) gained 39.96 points, or 0.29%, to 13,813.59.
Data showed consumer prices increased by the most in 14 months in August as gasoline prices surged, but the annual rise in underlying inflation was the smallest in nearly two years.
Raindrops hang on a sign for Wall Street outside the New York Stock Exchange in Manhattan in New York City, New York, U.S., October 26, 2020.
Reuters Graphics Reuters GraphicsThe Fed is unlikely to cut rates before the April-June period next year, a Reuters poll showed.
Persons:
Victoria Fernandez, Mike Segar, that's, Keith Buchanan, Jane Fraser, Xpeng, Ankika Biswas, Shristi, Shubham Batra, Noel Randewich, Savio D'Souza, Vinay Dwivedi, Deepa Babington
Organizations:
Citi, Federal Reserve, Microsoft, Apple, Nasdaq, Dow Jones, Ford, Crossmark Global Investment, Wall, New York Stock Exchange, REUTERS, GLOBALT Investments, Reuters Graphics Reuters, Citigroup, European Commission, Sprit, Moderna, Thomson
Locations:
Manhattan, New York City , New York, U.S, Atlanta, Bengaluru, Oakland, Calif