Stock indexes advanced Wednesday after inflation data for June came in cooler than Wall Street expected. Bond yields fell.
The S&P 500 rose 0.7% to close at the highest level since April 2022. The Dow Jones Industrial Average added 0.3%, while the tech-heavy Nasdaq Composite was 1.2% higher.
The latest CPI data showed that consumer prices rose 3% in June from a year earlier, the slowest pace in more than two years. Core CPI, which excludes volatile food and energy costs, rose 0.2% from May. Economists had expected a 0.3% increase.
Read the full story on The Wall Street Journal here.