US Stocks Rise on Easing Inflation Concerns

U.S. stocks rose on Wednesday as fresh inflation figures offered investors little reason to expect an immediate shift toward tighter monetary policy.

The S&P 500 gained 0.3% in morning trade, while the Nasdaq Composite advanced 0.7%. The Dow Jones Industrial Average was nearly flat.

The July consumer prices increased 0.1% from June, matching forecasts, and annual inflation eased to 3.4%.

The latest figures provided some relief for investors watching the Federal Reserve's next policy decision, particularly concerning core consumer prices, which exclude food and energy, rose 0.2% for the month and 2.5% from a year earlier.