soared 5.33%, set for its biggest one-day percentage jump since March 2020. The index is down 23% for the year but is heading for a weekly gain of more than 7%, the biggest in more than two years.
Data on Thursday showed that the U.S. consumer price index had been 7.7% higher in October than a year earlier. It was the first annual increase of less than 8% since February and the smallest since January. Investors poured into risky assets after the data, sending the dollar tumbling and U.S. Treasury yields to a five-week low.
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