News

U.S. Stock Indexes Open Higher as Consumer Prices Pick Up

1 Mins read

U.S. stock indexes opened higher on Thursday as consumer prices in the country showed an annual increase in July, breaking a 12-month streak of slowing growth. However, concerns about steady monthly readings on underlying price pressures could temper the Federal Reserve’s decision to raise rates.

Dow Jones Industrial Average

The Dow Jones Industrial Average (DJIA) rose by 267 points, or 0.8%, reaching 35,395.

S&P 500

The S&P 500 (SPX) experienced a 0.7% gain.

Nasdaq Composite

The Nasdaq Composite (COMP) advanced by 0.9%.

Consumer Price Index Report

According to the latest consumer-price index report from the Department of Labor, U.S. consumer prices increased by 0.2% in July on both a headline and core basis, aligning with the Dow Jones estimate. The core rate excludes volatile food and energy costs.

Annual Inflation Rate

However, the yearly rate of inflation rose to 3.2%, slightly below the forecast of 3.3%, but up from the prior month’s rate of 3%.

Likelihood of Rate Rise

Traders of Fed-funds futures now estimate less than a 10% chance of a September rate rise by the Federal Reserve, down from over 20% a week ago, according to the CME’s FedWatch tool.

Related posts
News

Essaadi: Foreign Exchange Volatility to Persist in 2025

3 Mins read
The Managing Director/CEO of Nigerian Breweries Plc, Mr. Hans Essaadi, yesterday hinted that foreign exchange volatility is expected to continue in 2025,…
News

N. Korean tech workers faked IDs for overseas defense jobs

1 Mins read
N. Korean tech workers faked IDs for overseas defense jobs. April. 03, 2025 07:50. by 남혜정기자 [email protected]. North Korean cyberattacks involving the…
News

School curriculum resources to teach children about risks of in-game purchases

3 Mins read
The Oak National Academy – an arm’s length body to help schools deliver curriculum content – has launched a package of teaching…

Leave a Reply

Your email address will not be published. Required fields are marked *

56 − 48 =