U.S. stocks finished marginally higher on Thursday after blowing a huge gain that had followed the release of a hotly anticipated inflation report for July. The S&P 500 SPX, +0.03% finished higher by 1.20 points, or less than 0.1%, at 4,468.91, according to preliminary data from FactSet. The Nasdaq Composite COMP, +0.12% rose by 15.97 points, or 0.1%, to 13,737.99. The Dow Jones Industrial Average DJIA, +0.
15% advanced 52.39 points, or 0.2%, to 35,175.75 after rising more than 450 points earlier. July inflation data came in roughly as economists had expected, with the CPI index rising 0.2% for the month. However, later in the day, San Francisco Fed President Mary Daly said the central bank still has more work to do to tame inflation, which pushed Treasury yields higher, in turn weighing on stocks. Bond yields move inversely to prices.
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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
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Stock market news today: US stocks fall ahead of July CPI reportUS stocks fall as investors brace for July CPI report
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