04:08 PM EST, 11/13/2024 (MT Newswires) -- US benchmark equity indexes ended higher Wednesday after official data showed consumer inflation in October rose in line with Wall Street's expectations.

* The US consumer price index increased 0.2% last month, the same as it did July through September, the Bureau of Labor Statistics reported. Annually, inflation accelerated to 2.6% from September's 2.4% pace.

* "Progress on the inflation front has slowed to a snail's pace in recent months as services inflation is looking increasingly sticky, while much of the disinflationary pressure from falling goods prices is now in the rear-view mirror," TD Economics said in a note. "All of this suggests that the last leg lower on returning inflation to the (Federal Reserve's) 2% target is going to occur much more gradually."

* The odds of policymakers lowering their benchmark lending rate by 25 basis points next month jumped to 82% on Wednesday from 59% Tuesday, according to the CME FedWatch tool. The remaining odds are for interest rates to remain unchanged.

* December West Texas Intermediate crude oil closed down $0.03 to settle at $68.09 per barrel, while January Brent crude, the global benchmark, was last seen up $0.09 to $71.98.

* Southwest Airlines ( LUV ) Chief Executive Officer Bob Jordan told Bloomberg that he "wouldn't be surprised" if Boeing ( BA ) is unable to meet delivery commitments next year. Southwest Airlines ( LUV ) shares rose 1.2% and Boeing ( BA ) fell 3.6%.

* Rivian Automotive ( RIVN ) shares jumped 14% after Germany's Volkswagen boosted its investment in a joint venture with the Irvine, California-based auto manufacturer to $5.8 billion from $5 billion.