Markets buoyed by cooling CPI as Fed timing remains uncertain
TL;DR
US stocks rose after July’s CPI showed inflation cooling to 3.4% year-over-year and a 0.1% monthly increase. The Nasdaq led gains (about 0.7%), the S&P 500 rose around 0.3%, while the Dow barely moved, as traders ponder whether the Fed will hold rates or cut a move in September. Inflation staying above the 2% target keeps the central bank in a wait-and-see stance. Geopolitical tension in the Middle East supported oil and yields, with energy near $90 per barrel. Earnings from Cisco, Coherent, and Cerebras Systems are due this week.
- Stock market today: Dow, S&P 500, Nasdaq futures rise ahead of CPI data finance.yahoo.com
- Consumer prices rose 0.1% in July, as expected, putting the annual rate at 3.4% CNBC
- Fed's Warsh gets a break as inflation eases Politico
- CPI Report Live Updates: Inflation Data Shows Consumer Prices Rose 3.4 Percent From a Year Ago The New York Times
- Inflation fell in July as Iran war marches on The Hill
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