US Stocks Reach New Highs as Inflation Boosts Rate-Cut Bets
Traders work on the floor of the New York Stock Exchange.
Photographer: Michael Nagle/BloombergUS stocks closed at fresh record highs on Tuesday after the latest consumer price index report stoked bets that the Federal Reserve is virtually certain to resume cutting interest rates next month.
The S&P 500 Index finished the session up 1.1%, while the tech-heavy Nasdaq 100 Index gained 1.3%.