Why Medical Properties Trust Stock Is Surging Higher Today
Shares of Medical Properties Trust (NYSE: MPW) were surging 12.5% higher as of 11:04 a.m. ET on Tuesday. The nice gain came after the U.S. Bureau of Labor Statistics (BLS) reported inflation numbers for October 2023.
BLS stated that the Consumer Price Index for All Urban Consumers (CPI-U) was up 3.2% year over year but flat from September to October. This was better than what Wall Street expected. Also, core CPI rose by only 0.2% year over year. This marked the smallest increase since September 2021.
Medical Properties Trust investors cheered the latest inflation numbers for one key reason: The better-than-expected results improve the odds that the Federal Reserve won't raise interest rates again.
Source Fool.com
