Stock market news today: Indexes rally on fresh sign of cooling inflation

Investors continued jumping back into equities on Thursday, as fresh inflation data raised hopes the Federal Reserve's rate hikes may be near an end.

The producer price index climbed 0.1% in June from the prior month, coming in below estimates and marking the smallest increase in nearly three years. That followed Wednesday's consumer price index report, which also showed a continued slowdown and less inflationary pressure than expected. in the upcoming July meeting, but odds of further hikes are falling. , indicating the labor market remains tight.

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