- Precious metals and stocks both surged Wednesday after CPI data came in softer than expected.
- Core prices rose 0.2% in December and 3.2% year-over-year (vs. 0.3% and 3.3% expected). Gold is trading at $2694, its highest level of 2025 and silver is up $0.70, trading at $30.65.
- The data was welcomed by investors who had been weary of the Fed’s projected 2025 rate cuts.
- The Dow and S&P 500 are up 1.5% today, while the tech-heavy Nasdaq, which had been hit hardest in recent weeks, is up 2%.