Posted: July 12, 2023 4:08 PM ET
U.S. stocks hit new closing highs on Wednesday after inflation data for June came in weaker than expected. The Nasdaq 100 NDX posted its highest close since Jan. 14, 2022, according to FactSet data. It is now approaching all-time highs since late 2021. Invesco QQQ Trust QQQ, an exchange-traded fund that tracks the Nasdaq 100, gained $4.65, or 1.3%, to $372.82 per share, according to preliminary closing data from FactSet. The S&P 500 SPX posted its best result since April 8, 2022, gaining 32.90 points, or 0.7%, to 4,472.16, according to preliminary closing data from FactSet. The Nasdaq Composite COMP gained 158.26 points, or…
U.S. stocks hit new closing highs on Wednesday after inflation data for June came in weaker than expected. The Nasdaq 100
NDX
recorded its highest close since Jan. 14, 2022, according to FactSet data. It is now approaching its all-time highs of late 2021. The Invesco QQQ Trust
QQQ
,
an exchange-traded fund that tracks the Nasdaq 100, gained $4.65, or 1.3%, to $372.82 per share, according to preliminary closing data from FactSet. The S&P 500
SPX
saw its best result since April 8, 2022, gaining 32.90 points, or 0.7%, to 4,472.16, according to preliminary closing data from FactSet. The Nasdaq Composite
COMP
gained 158.26 points, or 1.2%, to 13,918.96, its highest closing level since April 5, 2022. The Dow Jones Industrial Average
DJIA
rose 86.01 points, or 0.3%, to 34,347.43. Data released on Wednesday showed headline and core consumer price inflation rates slowed to 0.2% during the month of June, the smallest monthly increase since August 2021. The deceleration was even more steeper than economists had expected, triggering a rally in US equities as Treasury yields and the US dollar fell.
