The Dow Jones Industrial Average lost 90 points, even as jobless claims dropped for a third straight week. Tesla rival Nio slid on earnings. Read More...
Reuters
Slowing inflation growth lifts Dow, S&P to records
The Dow Jones Industrial Average and S&P 500 closed at record levels on Wednesday, as data indicated U.S. inflation growth may have peaked, while sectors tied to economic growth advanced on the heels of the passage of a large infrastructure bill. The Labor Department said the consumer price index increased 0.5% last month after climbing 0.9% in June, the largest drop in month-to-month inflation in 15 months, easing concerns about the potential for runaway inflation. “Certainly, the numbers show you more deceleration,” said Steven Ricchiuto, U.S. chief economist at Mizuho Securities USA LLC in New York.
Add Comment