U.S. stocks rose Wednesday, after an in-line consumer inflation report cemented expectations of another quarter-point rate cut by the Federal Reserve next week. After the November inflation report was released,

Inflation is moving in the wrong direction. U.S. inflation picked up for a second straight month in November on a rise in food and gasoline prices, underscoring that the final stretch of the Federal Reserve's two-year battle against sharply rising prices has become more challenging.

Inflation in November rose modestly, with housing costs continuing to be a major factor in price increases. However, the Fed is expected to proceed with an interest rate cut next week.