Is the Stage Set for a Year-End Rally? - The Wall Street Journal

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Consumers saw inflation cool in October after gasoline prices fell and underlying price pressures eased. The report suggests the Fed is likely done raising interest rates. Photo: Brandon Bell/Getty Images

Stock investors are getting early Christmas presents: Third-quarter corporate earnings were strong and

inflation keeps heading lower. With all the good news already priced in and bond yields offering stiff competition, though, there is less room for the usual seasonal rally.

Investors are feeling optimistic following Tuesday’s lower-than-expected inflation data. The S&P 500 and the Stoxx Europe 600 are up 2.1% and 1% since, respectively, and with their November rebound they have almost erased their losses since the start of August. The two indexes are up 17% and 6%, respectively, in 2023.

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Is the Stage Set for a Year-End Rally? - The Wall Street Journal

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