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Stock market today: Dow, S&P 500, Nasdaq rise after CPI data cools slightly
Yahoo Finance • • nation
Key Points:
- US stocks rose on Wednesday as investors reacted to easing inflation data, which may cause Federal Reserve officials to remain divided on raising interest rates.
- The S&P 500 increased by 0.3% and the Nasdaq Composite gained 0.7%, while the Dow Jones Industrial Average traded flat during a quiet week in the markets.
- July's Consumer Price Index showed inflation cooling to a 3.4% annual rate, matching expectations and slightly down from June's 3.5%, though inflation remains above the Fed's 2% target.
- Traders shifted toward expecting the Federal Reserve to hold interest rates steady in September, following the inflation report and a previously even split on rate hike expectations.
- Middle East tensions, including US enforcement of a blockade in the Strait of Hormuz and rising Brent crude prices near $90 per barrel, continue to influence inflation and Treasury yields.
