U.S. Stocks Climb as Nvidia Rebounds and December Fed Hike Odds Reach 90%

U.S. stocks advanced Wednesday, Nov. 11, as Nvidia recovered from early-week losses. The gains came alongside persistent inflation and a higher market-implied probability of a Federal Reserve rate increase in December.

The Nasdaq Composite rose 2.2%, the S&P 500 gained 1.5% and the Dow Jones Industrial Average added 169 points, or 0.3%. Nvidia shares rose 2.7% after losing nearly 10% earlier in the week. CoreWeave shares also climbed.

The Consumer Price Index rose 0.4% in October, above economists’ 0.3% projection. Markets priced in a 90% chance of a quarter-point rate increase in December.

Treasury trading was closed Wednesday for Veterans Day, leaving the bond market inactive during the stock gains.