Wall Street experienced a robust rally on Tuesday as both the S&P 500 and Nasdaq 100 indices soared to new record highs. The positive momentum was fueled by July’s inflation data, which eased concerns about widespread tariff-related cost pressures. The headline Consumer Price Index (CPI) remained steady at 2.7% year-over-year, while the core CPI, excluding energy and food, rose to 3.1% annually, surpassing expectations.
The Dow Jones Industrial Average climbed 1.1% to 44,458.61 on the day, matching the S&P 500's 1.1% gain to 6,445.76, while the tech-heavy Nasdaq advanced nearly 1.4% to 21,681.90.
