Stock market news today: Indexes finish July with robust monthly gains

US stocks rallied late to end higher, concluding a month of strong gains driven by better-than-expected inflation trends and a robust earnings season so far.

After trading mixed or lower heading into the closing bell, the major indexes reversed up at the last minute. For the month, the Dow Jones Industrial Average climbed 3.3%. Meanwhile, the Nasdaq Composite rose 4%, and the S&P 500 gained 3.1%, as both notched their fifth consecutive monthly advance. Looking further into this week, shareholders can expect more earnings releases, with Apple and Amazon set to publish their reports on Thursday.

Additionally, monthly payroll data will be released on Friday by the Labor Department, providing a better guideline as to whether the US economy is headed for a soft landing.

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