U.S. stock indexes rose in the final hour of trade on Wednesday, with Nasdaq Composite attempting to log its longest winning streak since September 12, according to Dow Jones Market Data. Investors await Thursday’s inflation report which is due at 8:30 a.m. eastern and may determine the size of the Federal Reserve’s next interest rate increase in February.
The headline inflation is expected to rise 6.5% year over year, while the core price measure that strips out volatile food and fuel costs, is forecast to rise 0.3% from the previous month, or 5.7% from a year ago. The Nasdaq Composite COMP, +1.76% jumped 1.5%, while the S&P 500 SPX, +1.28% rose 1.1% and the Dow Jones Industrial Average DJIA, +0.80% advanced 0.7%.