S&P 500 Edges Up as Soft CPI Eases Fed Fears
Stocks and gold advanced after tame July CPI data lowered expectations for a Fed rate hike, while Brent remained elevated on supply risks.
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Equities pushed higher after July CPI came in tame, reducing pressure on the Federal Reserve to tighten further. The S&P 500 added 0.3% to 7,748, while the Nasdaq gained 0.55%, helped by strength in AI-related stocks.
Rate markets shifted in response, with traders now assigning a 62% probability to a September rate hold.
Gold rallied above $4,400 as lower rate-hike expectations supported bullion. Meanwhile, Brent stayed elevated around $89, with oil and Hormuz-related supply risks keeping inflation concerns alive.
Source: First Squawk