Wall Street stocks rose, pushing the S&P 500 and Nasdaq to new record levels after markets extended their rally thanks to data showing steady inflation in the U.S., AFP reported.

“Markets are in full ‘expectation of easing’ mode,” commented Sam Stovall of CFRA Research, predicting two rate cuts by the Federal Reserve later this year.

The Dow Jones Industrial Average led the major indexes, up 1.0% to 44,922.27 points. The S&P 500 rose 0.3% to 6,466.58 points, and the tech-heavy Nasdaq Composite added 0.1% to 20,713.14 points. For most of the day stocks traded in positive territory, climbing after the consumer price index report showed that inflation in July remained at 2.7% year-on-year. The data reassured markets that President Donald Trump’s aggressive tariff campaign has not led to a significant rise in consumer prices.

Stovall forecast that wholesale price data would show an increase, but investors would likely overlook it.

Among individual companies, CoreWeave, a provider of infrastructure for artificial intelligence, reported more than a threefold increase in quarterly revenues to $1.2 billion and a growth outlook that beat expectations, but its shares plunged more than 20%. According to Briefing.com, high interest costs from significant debt and aggressive capacity expansion to meet rising AI demand are likely to pressure profits.

Brinker International rose 1.6% after reporting gains in profit and revenue, supported by higher sales at restaurants in the Chili’s chain. |BGNES