Stocks Hike First Thing Tuesday
Stocks rose Tuesday as investors breathed a sigh of relief that a tamer-than-expected inflation report might give the Federal Reserve the green light to cut interest rates next month.
The Dow Jones Industrial Average resurfaced 379.65 points to 44,354.74.
The S&P 500 index regained 35.29 points to 6,408.74.
The NASDAQ climbed 127.37 points to 21,512,77.
Stablecoin issuer Circle Internet Group jumped 12% after reporting a 53% year-over-year rise in its second-quarter revenue.
Tuesday’s fresh inflation data release reassured investors, who have feared that President Donald Trump’s broad tariff policies could spike prices in the U.S. economy.
The consumer price index rose 2.7% on an annualized basis in July, while a Dow Jones estimate had called for a 2.8% rise. So-called core CPI, which strips out volatile food and energy prices, increased by 3.1% year on year — slightly more than the expected 3%.
Prices for 10-year Treasury were down Tuesday, raising yields to 4.30% from Monday’s 4.28%. Treasury prices and yields move in opposite directions.
Oil prices slid 39 cents to $63.57 U.S. a barrel.
Gold prices tumbled $19.50 to $3,385.20 U.S. an ounce.
