Wall Street Rises on Cooling Inflation Data; Chip Stocks Benefit
U.S. stocks closed higher as June CPI data showed a slower-than-expected inflation rate of 3.5%, reducing expectations for an imminent Federal Reserve interest rate hike. Semiconductor and financial sectors led the gains, while IBM dropped sharply due to weak earnings guidance.
Tickers: $AMAT $AREC $GS $IBM $JNJ $JPM $MS $MU
Topics: fed_policy financials inflation semiconductors