Please ensure Javascript is enabled for purposes of website accessibility

Prime Minister of Yemen’s Houthi Government Killed in Israeli Strike

2 days ago

Texas Gov. Greg Abbott Signs Law Redrawing Congressional Maps

3 days ago

US Air Force will Offer Military Funeral Honors to Slain Capitol Rioter

3 days ago

US Republican Senator Joni Ernst Will Not Run for Re-Election, CBS News Reports

3 days ago

Wall Street Falls as Dell, Nvidia Drive Tech Losses

3 days ago

US Denies Visas to Palestinian Officials Ahead of UN General Assembly

3 days ago

Minneapolis Children Revealed Courage, Absorbed Fear During Church Shooting

4 days ago

Ford Recalls Nearly 500,000 Vehicles Over Brake Fluid Leak

4 days ago

Fresno-Bound Passenger Says Delta Attendant Slapped Him, Seeks $20M

4 days ago
Wall Street Edges Higher After Inflation Rises Moderately in July
Reuters logo
By Reuters
Published 3 weeks ago on
August 12, 2025

Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., July 15, 2025. (Reuters File)

Share

Getting your Trinity Audio player ready...

Wall Street’s main indexes inched higher on Tuesday after data showed inflation rose broadly in line with expectations in July, putting the Federal Reserve on track to lower interest rates next month.

A Labor Department report showed that the Consumer Price Index (CPI) rose by an expected 0.2% on a monthly basis in July, while on an annual basis it was a touch lower than what economists were projecting, drawing calls from President Donald Trump to lower interest rates.

However limiting the optimism, the data suggested that underlying inflation rose by 3.1% in the previous month as markets look for signs that tariffs and trade uncertainty were filtering into prices.

Yields on shorter-dated Treasury bonds – a reflection of interest rate expectations – moved lower after the data and interest rate futures showed traders are giving an 88.8% chance that the Fed could lower interest rates by about 25 basis points in September.

“My bigger fear is that this is still early innings of this process and just as the Fed will be beginning to cut rates in the autumn, that’s when the inflation data will probably start to be registering some of these more direct tariff price increases and it’s going to complicate the rate-cutting decision,” John Velis, a macro strategist at BNY said.

The data also comes at a time when there are growing concerns over the quality of economic data, weeks after Trump fired the head of the Bureau of Labor Statistics following downward revisions to previous months’ nonfarm payrolls counts.

Major Markets Gain

At 09:49 a.m. ET, the Dow Jones Industrial Average rose 163.16 points, or 0.37%, to 44,139.85, the S&P 500 gained 20.65 points, or 0.32%, to 6,394.10 and the Nasdaq Composite gained 69.38 points, or 0.32%, to 21,454.78.

Eight of the 11 S&P 500 sectors were in gains, with energy in the lead with a 0.8% rise.

Further providing some relief, U.S. and China extended their tariff truce until November 10, staving off triple-digit duties on each other’s goods.

U.S. stocks have rallied in recent weeks and the tech-heavy Nasdaq touched a record high on Tuesday, boosted by better-than-expected earnings from technology majors, a detente between the U.S. and its top trade partners and on expectations of rate cuts.

Reflecting the confidence, data from BofA Global Research showed that inflows into U.S. stocks last week were the largest in two years.

Markets are monitoring developments around Trump’s nominee E.J. Antoni to the Bureau of Labor Statistics commissioner post and potential candidates for the Fed’s top job.

Among single stocks, Intel rose 1.7% as Trump praised CEO Lip-Bu Tan following their meeting on Monday, days after seeking Tan’s resignation.

Palo Alto Networks gained 2% after brokerage Piper Sandler raised its rating on the cybersecurity stock to “overweight” from “neutral”.

U.S.-listed shares of On Holding climbed 11.6% after the sportswear maker raised its annual sales forecast.

Cardinal Health dropped 9% after the drug distributor said it will buy healthcare management firm Solaris for $1.9 billion.

Advancing issues outnumbered decliners by a 2.44-to-1 ratio on the NYSE and by a 1.78-to-1 ratio on the Nasdaq.

The S&P 500 posted 14 new 52-week highs and eight new lows, while the Nasdaq Composite recorded 43 new highs and 44 new lows.

(Reporting by Johann M Cherian, Sanchayaita Roy, Purvi Agarwal in Bengaluru; Editing by Arun Koyyur and Maju Samuel)

RELATED TOPICS:

DON'T MISS

What Are Fresno Real Estate Experts Predicting for 2025 and Beyond?

DON'T MISS

First California EV Mandates Hit Automakers This Year. Most Are Not Even Close

DON'T MISS

Fresno County Garnet Fire Grows to 18,748 Acres in Sierra National Forest

DON'T MISS

US Judge Blocks Deportations of Unaccompanied Migrant Children to Guatemala

DON'T MISS

Israel Pounds Gaza City Suburbs, Netanyahu to Convene Security Cabinet

DON'T MISS

Thousands in Australia March Against Immigration, Government Condemns Rally

DON'T MISS

Trump Says He Will Order Voter ID Requirement for Every Vote

DON'T MISS

Greta Thunberg Joins Flotilla Heading for Gaza With Aid

DON'T MISS

Chicago Mayor Says Police Will Not Aid Federal Troops or Agents

DON'T MISS

Post-War Gaza Plan Sees Relocation of Population, ‘Digital Token’ for Palestinian Land: Washington Post

DON'T MISS

Labor Day Quiz: Do You Know What a Knocker-Upper Is?

DON'T MISS

Bulldogs Check All the Boxes in Runaway Win Over Georgia Southern

UP NEXT

US Judge Blocks Deportations of Unaccompanied Migrant Children to Guatemala

UP NEXT

Israel Pounds Gaza City Suburbs, Netanyahu to Convene Security Cabinet

UP NEXT

Thousands in Australia March Against Immigration, Government Condemns Rally

UP NEXT

Trump Says He Will Order Voter ID Requirement for Every Vote

UP NEXT

Greta Thunberg Joins Flotilla Heading for Gaza With Aid

UP NEXT

Chicago Mayor Says Police Will Not Aid Federal Troops or Agents

UP NEXT

Post-War Gaza Plan Sees Relocation of Population, ‘Digital Token’ for Palestinian Land: Washington Post

UP NEXT

Labor Day Quiz: Do You Know What a Knocker-Upper Is?

UP NEXT

Bulldogs Check All the Boxes in Runaway Win Over Georgia Southern

UP NEXT

Judge Blocks Pillar of Trump’s Mass Deportation Campaign

Thousands in Australia March Against Immigration, Government Condemns Rally

1 day ago

Trump Says He Will Order Voter ID Requirement for Every Vote

1 day ago

Greta Thunberg Joins Flotilla Heading for Gaza With Aid

1 day ago

Chicago Mayor Says Police Will Not Aid Federal Troops or Agents

1 day ago

Post-War Gaza Plan Sees Relocation of Population, ‘Digital Token’ for Palestinian Land: Washington Post

1 day ago

Labor Day Quiz: Do You Know What a Knocker-Upper Is?

1 day ago

Bulldogs Check All the Boxes in Runaway Win Over Georgia Southern

2 days ago

Judge Blocks Pillar of Trump’s Mass Deportation Campaign

2 days ago

Classic Cars Will Still Need a Smog Test in California After Lawmakers Reject Jay Leno Bill

2 days ago

Visalia Driver Arrested for DUI After Multiple Crashes and Pedestrian Injured

2 days ago

Fresno County Garnet Fire Grows to 18,748 Acres in Sierra National Forest

A lightning-sparked wildfire, the Garnet Fire, in the Sierra National Forest has burned 18,748 acres in Fresno County and remains at 8% cont...

1 day ago

Photo: USDA - Forest Service Tanker 40 at Fresno Air Attack Base. The Fresno County Garnet Fire in the Sierra National Forest has burned 18,748 acres and is 8% contained as crews make progress on containment lines while bracing for possible thunderstorms early this week. (Sam Wu/USFS)
1 day ago

Fresno County Garnet Fire Grows to 18,748 Acres in Sierra National Forest

U.S. flag and Judge gavel are seen in this illustration taken, August 6, 2024. (Reuters File)
1 day ago

US Judge Blocks Deportations of Unaccompanied Migrant Children to Guatemala

Smoke rises from Gaza after an explosion, as seen from the Israeli side of the border, August 31, 2025. (Reuters/Amir Cohen)
1 day ago

Israel Pounds Gaza City Suburbs, Netanyahu to Convene Security Cabinet

Demonstrators hold a banner during the 'March for Australia' anti-immigration rally, in Sydney, Australia, August 31, 2025. REUTERS/Hollie Adams
1 day ago

Thousands in Australia March Against Immigration, Government Condemns Rally

President Donald Trump walks on the grounds of the Trump National Golf Club in Sterling, Virginia, U.S., August 30, 2025. (Reuters/Nathan Howard)
1 day ago

Trump Says He Will Order Voter ID Requirement for Every Vote

Activists Yasemin Acar, Greta Thunberg and Thiago Avila attend a press conference before the departure of the Global Sumud Flotilla, a humanitarian expedition to Gaza, at the port of Barcelona, Spain August 31, 2025. (Reuters/Eva Manez)
1 day ago

Greta Thunberg Joins Flotilla Heading for Gaza With Aid

National Guard troops wear gas masks during protests against federal immigration sweeps, in Los Angeles, California, U.S., June 12, 2025. (Reuters File)
1 day ago

Chicago Mayor Says Police Will Not Aid Federal Troops or Agents

A view of tents sheltering Palestinians displaced by the Israeli military offensive, in Gaza City, August 23, 2025. (Reuters File)
1 day ago

Post-War Gaza Plan Sees Relocation of Population, ‘Digital Token’ for Palestinian Land: Washington Post

Search

Help continue the work that gets you the news that matters most.

Send this to a friend