Wall Street Marks 8th Straight Winning Week Amid Slowing Inflation

Traders anticipate Federal Reserve to cut interest rates by end of next year as consumer spending rises unexpectedly.

Wall Street capped its eighth straight winning week, marking the longest winning streak since 2017.
The measure of inflation the Federal Reserve prefers to use slowed more than economists expected, down to 2.6% in November from 2.9% a month earlier.
Spending by U.S. consumers unexpectedly rose during the month, indicating potential underlying pressure on inflation.
Traders are largely betting the Federal Reserve will cut its main interest rate by at least 1.50 percentage points by the end of next year.
The yield on the 10-year Treasury was at 3.90% early Monday, down comfortably from October, when it was above 5%.