Stocks Rise as CPI ‘Checks The Box’ for Fed Cuts: Markets Wrap
- Core US inflation eases a fourth month, sealing Fed rate cut
- Bonds see small moves as dollar hovers near four-month low
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Stocks rose after an in-line US inflation report did little to alter bets the Federal Reserve will start cutting rates in September.
The S&P 500 extended its advance into a fifth straight day, the longest winning streak in more than month. Most of its major groups gained, with financial, energy and tech shares leading the charge. In late trading, Cisco Systems Inc. climbed on a solid revenue forecast. Treasuries saw small moves. The dollar remained at a four-month low.