S&P 500 Stays Near Records After Mild July Inflation Report
July inflation came in exactly as expected, and stocks rallied for about half an hour. Here's what actually moved the market after that.
Overview
Wall Street got the inflation report it wanted Wednesday morning and celebrated for about half an hour. Then it dropped back a bit.
The Nasdaq Composite (NASDAQINDEX: ^IXIC) index is up 0.44% as of 12:16 p.m. ET, the S&P 500 (SNPINDEX: ^GSPC) has added 0.23%, and the Dow Jones Industrial Average (DJINDICES: ^DJI) gained 0.09%.
Details
Those meek numbers understate the drama, though. All three indexes opened well above where they sit now, with the Nasdaq briefly over 1%. Relief rallies don't always have staying power.
Source
Originally published at www.fool.com.
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Disclaimer: This article is for informational purposes only and does not constitute investment advice. Data may be delayed up to 15 minutes. Past performance is not indicative of future results. Consult a licensed financial advisor before making investment decisions.