US Edition
S&P 500, Nasdaq end at record closing highs as moderate inflation lifts rate hopes
Moderate 2.7% inflation in July raised market confidence with traders pricing a 94% chance of a Federal Reserve interest rate cut in September, boosting major US indexes.
- On Tuesday, the S&P 500 index rose 1.1% and the Nasdaq composite climbed 1.4%, both closing at record highs on Wall Street.
- Amid signs of moderating price pressures, last month’s report showed U.S. consumer prices increased 2.7% year-over-year, better than economists expected.
- Pricing in cuts, money markets see about a 90% chance of a Fed reduction next month, rising to 94% from nearly 86%.
- Stocks got a lift from hopes the Federal Reserve will cut rates at its next meeting in September, and two-year Treasury yields slid four basis points to 3.73%.
- With more data due, the Federal Reserve will receive one more inflation report and one more on the U.S. job market before Sept. 17, although some economists warn that twists could complicate decisions.
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Wall Street experienced a robust rally on Tuesday as both the S&P 500 and Nasdaq 100 indices soared to new record highs. The positive momentum was fueled by July’s inflation data, which eased concerns about widespread tariff-related cost pressures. The headline Consumer Price Index (CPI) remained steady at 2.7% year-over-year, while the core CPI, excluding energy and food, rose to 3.1% annually, surpassing expectations. The Dow Jones Industrial …
The S&P 500 index and the technology index Nasdaq closed at record highs on Tuesday after the release of inflation figures.
Ticker: US stocks rally to records; Spirit Airlines sounds the alarm on its future ability to stay in business
The U.S. stock market rallied to records on Tuesday after data suggested inflation across the country was a touch better last month than economists expected. The S&P 500 rose 1.1% to top its all-time high set two weeks ago. The Dow Jones Industrial Average climbed 483 points, or 1.1%, and the Nasdaq composite jumped 1.4% to set its own record. Stocks got a lift from hopes that the better-than-expected inflation report will give the Federal Reser…
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