Dow jumps 450 on data suggesting inflation easing

U.S. stocks rose Friday after the December jobs report and a manufacturing survey showed signs that inflation may be cooling amid the Federal Reserve’s interest rate hikes.

The Dow Jones Industrial Average increased 480 points, or 1.46% The S&P 500 gained 1.31% and the Nasdaq Composite ticked 1.13% higher. …

“All investors care about is that the data suggests inflation is moving towards the Fed’s target,” said Michael Arone, chief investment strategist at State Street Global Advisors. “That’s all investors care about and average hourly earnings suggest inflation continues to slow. They are excited about that.