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Barchart

Rich Asplund

Stocks Finish Higher on a Fed-Friendly US July CPI Report

United States Mars US Federal Reserve

The S&P 500 Index ($SPX) (SPY) Wednesday closed up +0.38%, the Dow Jones Industrials Index ($DOWI) (DIA) closed up +0.61%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed up +0.09%.

US stocks on Wednesday closed higher, with the S&P 500, Dow Jones Industrials, and Nasdaq 100 posting 1-1/2 week highs. Stocks found support Wednesday after the US July CPI report was slightly weaker than expected, reinforcing the outlook for the Fed to cut interest rates next month. Also, M&A activity supported stocks Wednesday after Mars agreed to buy Kellanova in a deal valued at $36 billion.

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