Forex
US Stocks Soar to Record High on Easing Oil Prices and Lower Inflation
The US stock market rose to an all-time high on Thursday, following the latest sign that inflation is getting less bad.
Prices at the US wholesale level were 4.7% higher last month than a year earlier, which is more painful than anyone would like but not as bad as June's 5.5% inflation rate.
The S&P 500 climbed 0.7% and topped its prior record set last week, while the Dow Jones Industrial Average added 69 points or 0.1%, and the Nasdaq composite gained 0.8%.
The Federal Reserve could decide to hold off on hikes to interest rates if inflation continues to trend that way.