Wall Street's Tech Rally: Inflation Data Sets the Stage
Tech stocks led a market surge on Tuesday, with the Nasdaq Composite rising approximately 2.4%, while the S&P 500 gained about 1.7%. The Dow Jones Industrial Average also saw an increase of nearly 1%. This rise comes as investors digested lower-than-expected inflation data, setting high expectations for the upcoming Consumer Price Index (CPI) report. The Producer Price Index (PPI) rose by just 0.1% month-over-month in July, aligning closely with the Federal Reserve's 2% inflation target, signaling cooler inflation trends and boosting market confidence.
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