Wall St rises after CPI data but Fed concerns persist

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Reuters

By Chuck Mikolajczak NEW YORK (Reuters) – U.S. stocks rose on Tuesday after a surprisingly small consumer price increase buoyed optimism that the Federal Reserve could soon dial back its inflation-taming interest rate hikes, but concerns remained the central bank could stay aggressive. The benchmark S&P 500 rose as much as 2.76% to a three-month high on news that November U.S. consumer prices barely rose as gasoline and used cars cost less, leading to the smallest annual inflation increase in nearly a year at 7.1%. Rising expectations for smaller and slower Fed rate hikes helped lift rate-sens…

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