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Published: Nov 11, 2022 5 min read

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Men in the New York stock market exchange
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Investors just got some much-needed excitement.

Stocks experienced their biggest one-day rally since 2020 on Thursday. The S&P 500 jumped 5.5%, the Dow Jones Industrial Average was up 3.7%, and the tech-heavy Nasdaq Composite soared 7.4%.

"After a huge October gain for stocks, November is living up to its bullish reputation," says Ryan Detrick, chief market strategist at Carson Group.

The surge was the latest evidence that investors are closely watching inflation, and what it mean for the Federal Reserve's monetary policy. On Thursday, the Department of Labor reported that for the year ending in October, the inflation rate was 7.7%, lower than the 8.2%. rate of the previous month. Consumer prices rose by 0.4% from September to October overall — a lower rate than economists had expected.