
Stocks rise on cooler-than-expected inflation data
CBSN
Stocks are mixed on Wall Street on Tuesday after the government reported another decline in the pace of wholesale price inflation last month — a sign that inflationary pressures in the U.S. might be easing. Investors were fueled by hopes the figures could influence the Federal Reserve ahead of its December meeting.
The S&P 500 surged as high as 4,009 before coasting to 3.980, up by 0.6%. The Dow fell 0.2% after rising by half a percentage point, while the Nasdaq climbed 1.1%.
The government reported that prices at the wholesale level rose 8% in October from 12 months earlier, the fourth straight decline and the latest sign that inflation pressures in the United States are easing from painfully high levels.

Robert Morris, founding pastor of Gateway Church, a megachurch in Southlake, Texas, has been indicted on five counts of lewd or indecent acts with a child, stemming from alleged incidents dating back to the 1980s, the Oklahoma attorney general's office announced Wednesday. We are aware of the actions being taken by the legal authorities in Oklahoma and are grateful for the work of the justice system in holding abusers accountable for their actions. We continue to pray for Cindy Clemishire and her family, for the members and staff of Gateway Church, and for all of those impacted by this terrible situation.