US Stock Market Soars Amid Promising Inflation Data

The US stock market is experiencing a strong upward trend as recent inflation data suggests a more favorable scenario than economists had anticipated. This development has fueled hopes of potential Federal Reserve interest rate cuts in the coming months.

The S&P 500 increased by 0.6%, while the Dow Jones Industrial Average witnessed a rise of 251 points. The Nasdaq composite also surged by 0.7%, nearing its previous record highs. These gains were driven by expectations that the better-than-expected inflation report could prompt the Fed to consider lowering rates in September.

However, economists remain cautious as upcoming data releases will further guide the Fed's decisions. In international markets, China's indexes saw a slight rise following a delay in tariffs prompted by a US executive order, with mixed reactions from other Asian markets, such as Japan's Nikkei 225 and South Korea's Kospi.

(With inputs from agencies.)