Commodities
US Stocks Tick Toward Records as Inflation Eases and Oil Prices Drop
US stocks are nearing an all-time high after inflation data showed prices at the wholesale level rose 4.7% in August, down from June's 5.5% rate.
The Dow Jones Industrial Average dropped 123 points, or 0.2%, as of 11:30 a.m. Eastern time, while the Nasdaq composite climbed 0.6% and the S&P 500 rose 0.5%.
Fed officials are split on whether to raise interest rates, but traders now bet on only a 34% chance that this will happen at the next meeting in September, down from 50% two days ago.
The yield on the 10-year Treasury fell to 4.64%, easing pressure on stocks and other investments.