The S&P 500 rose roughly 2 percent by midday on Tuesday, a gain it has failed to maintain for an entire trading day yet in 2023.
The government reported that the overall Consumer Price Index slowed to 3.2 percent last month on a year-over-year basis, lower than the 3.7 percent reading in September and the coolest since July.
Jerome H. Powell, chair of the Federal Reserve, recently said that decision was not even being considered by the central bank's officials as they look.
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