U.S. stocks open higher after July CPI data shows inflation ticks higher for first time in 13 months

  • 📰 MarketWatch
  • ⏱ Reading Time:
  • 18 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 10%
  • Publisher: 97%

Business News News

Business Business Latest News,Business Business Headlines

U.S. stock indexes opened higher on Thursday after U.S. consumer prices picked up on an annual basis in July, snapping a 12-month streak of slowing...

U.S. stock indexes opened higher on Thursday after U.S. consumer prices picked up on an annual basis in July, snapping a 12-month streak of slowing increases, but steady monthly readings on underlying price pressures could still deter the Federal Reserve from raising rates. The Dow Jones Industrial Average DJIA, +1.25% rose 267 points, or 0.8%, to 35,395, while the S&P 500 SPX, +1.28% gained 0.7% and the Nasdaq Composite COMP, +1.61% advanced 0.9%. U.S. consumer prices rose by 0.

2% in July on both a headline and core basis, both in line with the Dow Jones estimate, according to the latest consumer-price index report from the Department of Labor. The core rate omits volatile food and energy costs. However, the yearly rate of inflation rose to 3.2% from to 3% in the prior month, slightly below the 3.3% forecast.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 3. in BUSÄ°NESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Stock market outlook: July CPI report to spark a big rally for stocksThis week's inflation report will spark a big rally in the stock market, Fundstrat says
Source: BusinessInsider - 🏆 729. / 51 Read more »

Stock market news today: US stocks fall ahead of July CPI reportUS stocks fall as investors brace for July CPI report
Source: BusinessInsider - 🏆 729. / 51 Read more »