Stocks stepped higher at the open today, as investors awaited what many assumed would be an interest rate cut from the Federal Reserve. The Dow rose 77 points, while the Nasdaq and S&P added 1.6% and 1.4% respectively. Investors also learned that inflation took its biggest dive in 61 years in November, as the labor department reported a larger-than-expected 1.7% dip in its Consumer Price Index.
Home construction hit record lows in November, taking its biggest fall in 24 years. Goldman Sachs, meanwhile, reported its first negative quarter since going public in 1999, losing $2.29 billion—but that was within analyst estimates, so shares rose 5%.