US Stocks inched up Wednesday as Wall Street digested a key signal on consumer prices that is set to help shape the near-term future of interest-rate policy. The S&P 500 and the tech-heavy Nasdaq Composite were up around 0.2%. The Dow Jones Industrial Average hovered near the flatline. The Consumer Price Index showed price increases held largely steady in July. Consumer prices rose 2.9% year-over-year in July, the first time headline inflation has dipped below 3% since 2021.
Wall Street rallied Tuesday on the back of positive inflation data that could foreshadow a similar direction in consumer prices. The Producer Price Index, which measures wholesale inflation in the US economy, rose just 2.2% year-over-year in July, nearly in line with the Federal Reserve's 2% target. Together, the inflation signals could get the Fed closer to a rate cut.
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:
Nigeria Nigeria Latest News, Nigeria Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Stock market today: Wall Street opens higher after inflation report comes in better than expectedNEW YORK (AP) — U.S. stocks are rising, and Wall Street is relaxing a bit after the first of several highly anticipated reports on the economy this week came in better than expected. The S&P 500 was 0.
Source: SooToday - 🏆 8. / 85 Read more »
Stock market today: Wall Street is steady ahead of big tests coming later in the weekNEW YORK (AP) — Wall Street is holding relatively steady, as markets around the world stabilize following a wild week. The S&P 500 was up 0.3% in early trading Monday. The Dow Jones Industrial Average rose 58 points, or 0.
Source: SooToday - 🏆 8. / 85 Read more »
Stock market today: Stocks wobble as Wall Street looks to end volatile week on high noteA wild week on Wall Street is coming to a close.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »
Stock market today: S&P 500, Nasdaq surge as wild week on Wall Street continuesStocks rallied on Thursday as a fresh reading on weekly unemployment claims helped calm recession fears.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »
Stock market news today: Market rebound wavers in volatile week on Wall StreetStocks rose on Wednesday as investors looked to build on Tuesday's trading session that snapped a 3-day losing streak.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »
Stock market today: Wall Street tumbles on worries about U.S. economy after weak jobs reportWall Street pointed sharply lower early Friday morning after a worse-than-expected government employment report spooked investors who were already panicked over signs of weakness in the U.S. economy. Futures for the S&P 500 were down 1.
Source: SooToday - 🏆 8. / 85 Read more »