US Inflation Rate Rises Again, Oil Prices Plunge

The main inflation gauge used by the Federal Reserve rose at an elevated rate in July, potentially pushing the Fed closer to a vote to raise interest rates next month.

Oil prices fell for a third straight day after Iran and Oman discussed measures to temporarily reopen the strait.

The stock market reacted negatively to inflation data and durable goods figures, with traders awaiting earnings from Nvidia, the world's most valuable company.