SP 500, Nasdaq end higher, Dow down slightly
U.S. prices fall in November Commerce Department report
Dollar falls to near 5month low

NEW YORK, Reuters Global stock indexes mostly rose while the U.S. dollar dipped to a near fivemonth low on Friday ahead of the long holiday weekend, with coolerthanexpected U.S. inflation data supporting the view that the Federal Reserve could cut borrowing costs in the new year.

The Commerce Department report showed U.S. prices fell in November for the first in more than 312 years, pushing the annual increase in inflation further below 3.

The data is the last major release this year, and many investors are expected to be away between Monday39;s Christmas Day holiday and New Year39;s Day.

Stock investors have cheered recent signs from the Fed on the outlook for rates. At the conclusion of its policy meeting on Dec. 13, the Fed signaled that it had reached the end of its tightening cycle and opened the door to interest rate cuts in the coming year.

The U.S. benchmark SP 500 is inching closer to its alltime closing high. Reaching a new closing high would have confirmed the benchmark index had been in a bull market since closing at the bear market floor in October 2022.

The data was very dovish, and, of course, this is the Fed39;s primary measure of inflation. But the core being below expectations and the top line also being below expectations is positive for the market, indicative that inflation is declining, said Tim Griskey,…