Stocks jolted higher on Thursday, after fresh data showed a moderation in inflation, bolstering investors’ hopes that the Federal Reserve may slow the pace of interest rates increases that have weighed on the market.The S&P 500 opened for trading with a gain of 3.6 percent, which if it holds through the day would be the best one-day performance for the index this year.The move followed a 2.1 percent loss for the index on Wednesday as control of Congress remained unclear after the midterm elections and turmoil erupted in cryptocurrency markets following the collapse of one of the largest crypto exchanges.The Consumer Price Index data provided a tailwind for the market on Thursday, with prices rising slower in October than economists had forecast. U.S. government bond yields, which are particularly sensitive to expectations for future interest rate increases, …
