NASDAQ hits new record high after inflation data

Most US stock indices rose during Tuesday’s trading following the release of inflation data that aligned with market expectations.

Data from the US Department of Labor released today showed that the Consumer Price Index (CPI) rose by 2.7% year-on-year in June, in line with expectations, while the core inflation index — which excludes food and energy prices — recorded a monthly increase of 0.2%, which was lower than expected.

Following the data release, President Donald Trump stated that the Federal Reserve should cut interest rates, and he renewed his criticism and attacks on Fed Chair Jerome Powell.

As for trading, the Dow Jones Industrial Average fell by 0.5% (equivalent to 32 points) to 44,228 points as of 16:45 GMT, while the broader S&P 500 Index rose by 0.1% (equivalent to 3 points) to 6,272 points, and the Nasdaq Composite Index increased by 0.7% (equivalent to 149 points) to 20,722 points.