S&P 500, Nasdaq Rise on Soft Inflation, Easing Fed Rate-Hike Concerns
The Nasdaq and S&P 500 advanced on Wednesday, with the Nasdaq leading gains, following a softer-than-expected inflation report. The data has fueled expectations that the Federal Reserve may hold off on further interest rate hikes next month.
The Nasdaq climbed more than 1% on Wednesday, pacing gains across Wall Street’s main indexes, after a softer-than-anticipated inflation reading raised hopes the Federal Reserve may not hike rates as soon as next month. A Commerce Department report showed…