Stocks rallied Wednesday as Wall Street breathed a sigh of relief over a lower-than-expected CPI reading for July that showed inflation eased to an annual 8.5% last month.
The benchmark S&P 500 jumped 2.1% while the Dow Jones Industrial Average gained 535 points, or about 1.6%, and the tech-heavy Nasdaq Composite surged 2.9%.
July’s CPI report showed prices moderated last month, edging lower for the first time since early 2021 in a hopeful sign for investors that Federal Reserve officials may…
Source link
