- The major Wall Street indices are trading modestly higher on Wednesday.
- Core CPI inflation in the US declined modestly in July.
- Financial stocks continue to push higher on rising US Treasury yields.
The main Wall Street indices The S&P 500 Index, which hit a new all-time high of 4,449, is currently up 0.25% on the day at 4,447, the Dow Jones Industrial Average is rising 0.6% to 35,480 and the Nasdaq Composite gained 0.7% to 14,798.
The US Bureau of Labor Statistics announced Wednesday that the Core Consumer Price Index (CPI) fell to 4.3% in July as expected from 4.6% in June.
Among the 11 major sectors of the S&P 500, the financial index is up 0.5% supported by rising yields on US Treasuries.On the other hand, the Energy Index is down 0.2% as the barrel of West Texas Intermediate is losing more than 1% after Tuesday’s decisive rally.
S&P 500 chart (daily)
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