US Stocks Close Higher Ahead of CPI Report

Stocks in the US finished higher on Wednesday, as investors await the US CPI release tomorrow as well as the commencement of the earnings season later in the week. The S&P 500 added 0.6%, the Nasdaq gained 0.7%, the Dow Jones finished 170 points higher. Consumer discretionary and tech were the top performing sectors, while energy and materials faced the most significant declines. Meta experienced a notable surge of 3.6%, its highest level since September 2021. NVIDIA also demonstrated strong performance, adding 2.2%, while Microsoft rose by 1.8%, closing at its highest level since November, although it reached a record high of $382.13 during the session. In contrast, Exxon Mobil (-1%) and Chevron (-0.8%) saw declines, reaching their lowest levels in four weeks.

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