Markets
Here are today’s market moves:
What Happened?
The S&P 500 and Dow Jones closed at record highs for a second straight day on Wednesday, after a report on inflation mostly matched expectations.
The Labor Department said that the U.S. consumer price index jumped by 5.4% in the 12 months through July, close to the 5.3% increase expected by economists.
The core rate of inflation, CPI, rose by 0.3% – below the 0.4% increase expected – after excluding energy and food prices.
If it feels like the S&P 500 has been hitting new records often this year, that’s because it has. Today, the S&P 500 closed at a record for the 46th time this year.
The crypto market was mixed on Wednesday, with Bitcoin reaching its highest level since mid-May and then finishing the day flat near $45.5k, as retail investors come back into the market.