Stock Market Today: Dow ends higher as focus shifts to consumer inflation data

Investing.com -- The Dow closed higher Wednesday, shrugging off data pointing to an uptick in the pace of inflation as investor focus shifted to consumer inflation data for September that will likely seal the Federal Reserve’s decision on whether to stand pat on rate hikes next month.surprised to upside on the Wednesday, but that was largely brushed aside with just a day to until the September consumer inflation report.is expected to have slowed to 0.

“We forecast that headline CPI rose by 0.32% in September, down from August, as a lower acceleration in energy prices brings down headline CPI,” Morgan Stanley said in a note.The Fed’s minutes from its September meeting, released Wednesday, showed that most Fed members were backing one more rate hike.

The minutes, however, were deemed to be stale on arrival as many Fed members now appear to have shifted to a dovish tone since September following the recent surge in Treasury yields.The transaction, which is expected to close in the first half of 2024, is expected to boost Exxon Mobil's total upstream production “to more than 5 million barrels of oil equivalent a day in 2027,” Goldman Sachs says, and boost the combined entity’s operating cash flow and free cash flow in 2024.

Sentiment on Plug Power has also been boosted by growing optimism for deal wins as the battery power company is believed to be in the running to win funding for hydrogen projects that are expected to be announced by President Biden this week.) surged 1000% after an updated trial of its combination therapy to potentially treat patients with liver cancer showed improved results from an earlier study, when compared with the standard of care.

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