Market Snapshot: U.S. stocks advance after hotter-than-expected August inflation report

by | Sep 13, 2023 | Stock Market

U.S. stock indexes were trading higher on Wednesday after the latest consumer-price index data showed price pressures picked up in August but still eased at a gradual pace, fueling hopes that the Federal Reserve could leave interest rates unchanged at its September policy meeting.How are stock indexes trading
The S&P 500
rose 13 points, or 0.3%, to 4,476

The Dow Jones Industrial Average
was up 68 points, or 0.2%, to 34,712

The Nasdaq Composite
gained 60 points, or 0.4%, to 13,834

What’s driving markets U.S. stock indexes were edging higher at midday Wednesday, after toggling between small gains and losses following the release of the U.S. consumer-price index for August. The data showed annual headline inflation rose 3.7% last month, slightly higher than the Wall Street’s forecast of 3.6%.

The consumer-price index, which measures costs across a broad variety of goods and services, rose 0.6% for the month, its biggest monthly jump in 14 months, the Bureau of Labor Statistics reported. However, excluding volatile energy and food prices, …

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