Inspiring investors who have been buying up equities after a dip to start August, U.S. stocks were flat on Wednesday as the annual inflation rate broke 3%.
A 0.1% decline was seen in the Nasdaq Composite, while the S&P 500 increased by 0.03%. A gain of 32 points, or 0.09%, was made by the Dow Jones Industrial Average.
Consumer prices rose 2.9% annually on Wednesday, the lowest number since 2021 and down from 3% in June. Prices increased by 0.2% month over month. According to a Dow Jones survey, economists predicted a 3% annual rise as well as a 0.2% increase over the previous month.
Source (CNBC)
