Stocks Secure Victory Amid July CPI Report

Stocks initially surged on positive inflation data, but concerns over a rise in jobless claims dampened investor enthusiasm, resulting in the main benchmarks finishing lower. Despite the slight uptick in inflation, expectations remain for the Fed to keep interest rates unchanged at its next meeting. In single-stock news, Tapestry has announced plans to acquire Capri Holdings at a significant premium, a move that Wells Fargo analysts believe will position Tapestry as the leader in the accessible luxury handbag market in the US. The Dow Jones outperformed, supported by strong earnings from Walt Disney.