Market Snapshot: Dow up nearly 300 points as July inflation report bolsters expectations Fed is done hiking rates

by | Aug 10, 2023 | Stock Market

U.S. stocks climbed, but were off session highs, on Thursday after a July report on consumer prices showed inflationary pressures remained relatively subdued last month, helping to cement expectations that the Federal Reserve has finished raising interest rates. What’s happening
The Dow Jones Industrial Average
was up 281 points, or 0.8%, to 35,405.

The S&P 500
gained 36 points, or 0.8%, to 4,504.

The Nasdaq Composite
rose by 120 points, or 0.9%, to 13,844.

The S&P 500 has declined six of the last seven sessions as stocks have seen a rocky start to August, but both the S&P 500 and Dow managed to shake off losses from earlier in the week as they fought to avoid a second straight weekly decline.

What’s driving markets U.S. consumer prices rose by 0.2% in July on both a headline and core basis, with the latter excluding food and energy prices. Both measures were in line with economists’ expectations. See: U.S. inflatio …

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