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Image by BRYAN R. SMITH/AFP/Getty Images

The Dow opened down by triple digits today following the release of the much-anticipated Consumer Price Index report, which showed prices rose 1.7% from a year ago against analyst forecasts of 1.5%. It finished the day up 253 points, or about 1%.

Why it matters: Coupled with last week's news of increased wage growth—which caused all three major U.S. stock indexes to finish the five-day trading period down 5%, per CNBC—investors fear inflation will cause the Federal Reserve to hike up interest rates.

Below, we'll be tracking the Dow's movements throughout the day:

  • 9:32am: 24,527.57 (down 113 points)
  • 9:54am: 24,602.89 (down 38 points)
  • 10:12am: 24,654.91 (up 14 points)
  • 10:43am: 24,703.41 (up 63 points)
  • 12:17pm: 24,642.80 (up 2 points)
  • 1:15pm: 24,784.47 (up 144 points)
  • 2:18pm: 24,836.16 (up 196 points)
  • 3:38pm: 24,886.15 (up 246 points)
  • 4:00pm: 24,893.49 (up 253 points)

Go deeper

Updated 1 hour ago - Politics & Policy

Key government agency says Biden transition can formally begin

General Services Administrator Emily Murphy. Photo: Alex Edelman/CNP/Getty Images

General Services Administrator Emily Murphy said in a letter to President-elect Joe Biden on Monday that she has determined the transition from the Trump administration can formally begin.

Why it matters: Murphy, a Trump appointee, had come under fire for delaying the so-called "ascertainment" and withholding the funds and information needed for the transition to begin while Trump's legal challenges played out.

Updated 2 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Aïda Amer/Axios

  1. Vaccines: Key information about the effective COVID-19 vaccines — Oxford and AstraZeneca's vaccine won't just go to rich countries.
  2. Health: U.S. coronavirus hospitalizations keep breaking recordsWhy we're numb to 250,000 deaths.
  3. World: England to impose stricter regional systemU.S. hotspots far outpacing Europe's — Portugal to ban domestic travel for national holidays.
  4. Economy: The biggest pandemic labor market drags.
  5. Sports: Coronavirus precautions leave college basketball schedule in flux.

Michigan board certifies Biden's win

Poll workers count absentee ballots in Detroit, Michigan on Nov. 4. Photo: Salwan Georges/The Washington Post via Getty Images

The Michigan Board of State Canvassers certified the state's election results on Monday, making President-elect Joe Biden's win there official and granting him the state's 16 electoral votes.

Why it matters: Republican Party leaders had unsuccessfully appealed to delay the official certification, amid the Trump campaign's failed legal challenges in key swing states.