The U.S. stock market rallied to more records after data suggested inflation across the country was a touch better last month than economists expected.
The S&P 500 rose 1.1 percent Tuesday, beating its all-time high set two weeks ago. The Dow Jones Industrial Average added 1.1 percent, while the Nasdaq composite climbed 1.4 percent to its own record.
Stocks got a lift from hopes that the better-than-expected inflation report will give the Federal Reserve leeway to cut interest rates at its next meeting in September. Lower rates can give the economy and investment prices a boost.
On Tuesday:
The S&P 500 rose 72.31 points, or 1.1 percent, to 6,445.76.
The Dow Jones Industrial Average rose 483.52 points, or 1.1 percent, to 44,458.61.
The Nasdaq composite rose 296.50 points, or 1.4 percent, to 21,681.90.
The Russell 2000 index of smaller companies rose 66.27 points, or 3 percent, to 2,282.78.
For the week:
The S&P 500 is up 56.31 points, or 0.9 percent.
The Dow is up 283.00 points, or 0.6 percent.
The Nasdaq is up 231.88 points, or 1.1 percent.
The Russell 2000 is up 64.36 points, or 2.9 percent.
For the year:
The S&P 500 is up 564.13 points, or 9.6 percent.
The Dow is up 1,914.39 points, or 4.5 percent.
The Nasdaq is up 2,371.11 points, or 12.3 percent.
The Russell 2000 is up 52.62 points, or 2.4 percent.
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