"Wall St Soars as Inflation Cools, Easing Rate Hike Concerns"

Wall Street rallied as inflation cooled further in June, easing concerns about the Federal Reserve's monetary tightening cycle. U.S. consumer prices rose modestly, with core inflation slowing to its smallest annual increase in over two years. The data boosted hopes that the Fed may be nearing the end of its rate hikes. Megacap growth stocks, including Microsoft, Amazon, and Tesla, led the gains. The S&P 500 sectors advanced, with communication services leading the way. Nvidia is in talks to become an anchor investor in Arm's IPO, while VMware rose after Broadcom secured conditional EU antitrust approval for its acquisition. Chinese firms Alibaba and Bilibili also saw gains amid signs of Beijing easing its crackdown on the tech sector.