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Stock market today: S&P 500, Nasdaq rip higher as key inflation data comes in cool

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Consumer Prices,Producer Price Index,Nasdaq 100

Investors are anxious for several economic datapoints this week, starting with inflation.

US stocks ripped higher in late morning trading on Tuesday as Wall Street digested cooler-than-expected inflation data and awaited an update on consumer prices. The S&P 500 rose more than 1%, while the tech-heavy Nasdaq Composite around 1.7%. The Dow Jones Industrial Average inched up around 0.5%. So far, it's the best three-day stretch for the Nasdaq Composite, Nasdaq 100 , and S&P 500, with each tracking four straight wins.

July's retail sales reading, a key indicator of the health of the US consumer, is set to follow on Thursday. Wall Street is coming off an unusually boring day after more than a week of volatility. The S&P 500 and Nasdaq on Monday continued slowly building back toward the highs the indexes saw before a three-day sell-off wiped out a decent chunk of those year-to-date gains. Home Depot was the most significant name on the earnings docket Tuesday.

 

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