Stock markets on Tuesday passed their first major test this week, edging higher after federal data showed the U.S. inflation rate has slowed by half since last year’s highs.
The S&P 500 ticked up 0.7%, notching a new 2023 high, while the tech-heavy Nasdaq Composite climbed by 0.8%. The Dow Jones Industrial Average rose 0.4%, or about 146 points.
Major indexes’ gains spanned almost every sector of the U.S. economy save the utility industry, with the industrial and materials-producing sectors leading the way. In a potential sign that this year’s market rally is broadening beyond tech behemoths, the Russell 2000 index of small-cap stocks also logged gains.
Read the full story on The Wall Street Journal here.