Overview

• 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%.