Tame US inflation boosts S&P 500, Nasdaq rallies above 20,000
Wall Street's benchmark S&P 500 index rose on Wednesday and a rally in tech stocks lifted the Nasdaq above the 20,000-point milestone for the first time, after a U.S. inflation report boosted expectations of a Federal Reserve interest rate cut.
The Dow Jones Industrial Average dipped, dragged by health insurers as U.S. lawmakers introduced a bill seen as crimping their profits.
Five of the 11 major S&P 500 sectors advanced, led by gains in communication services, technology and consumer discretionary services.
A Labor Department report showed U.S. consumer prices in November increased by the most in seven months, though broadly in line with market expectations.
The Dow Jones Industrial Average fell 99.27 points, or 0.22%, to 44,148.56, the S&P 500 gained 49.28 points, or 0.82%, to 6,084.19 and the Nasdaq Composite gained 347.65 points, or 1.77%, to 20,034.89.
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