TheStreet's JD Durkin brings the latest business headlines from the New York Stock Exchange as markets close for trading on Tuesday, December 12.
Full video transcript below:
JD DURKIN: I'm JD Durkin, reporting from the New York Stock Exchange.
stocks closed today's session in green. The Dow closed up 170 points, the Nasdaq closed up seven tenths of a percentage and the S&P closed up four tenths of a percentage.
This comes as investors continue to digest November's inflation report, which saw consumer prices rise 3.1 percent year over year, a slight decline from 3.2 percent in October. This is still above the Federal Reserve's 2 percent inflation target.
Investors also await the Federal Reserve's interest rate decision when its two-day policy meeting begins today. While traders largely expect the central bank to keep rates steady, Wall Street will be paying close attention to comments from Fed Chair Jerome Powell for clues about the future of interest rates.
Meanwhile, this holiday travel season is shaping up to be one of the busiest. According to Triple A, the number of Americans traveling during the 10-day holiday period from December 23 to January 1 is expected to surpass 115 million, the second highest level seen in two decades. This would mark a 2 percent increase from 2022.
According to forecasts, an estimated 7.5 million people will take flights during that same period, an increase from the 7.3 million seen in 2019. This expected increase comes after the record-breaking Thanksgiving holiday with more than 2 million people screened at United States airports in a single day.
That will be enough for your daily report. From the New York Stock Exchange, I'm JD Durkin of TheStreet.
