The Dow held on to its triple-digit gain today, as investors cheered the second encouraging U.S. inflation report this week. With a rate cut looking more likely to take place in September, the question remains whether the central bank will slash rates by 25 or 50 basis points. Meanwhile, the S&P 500 and Nasdaq locked in five-straight daily wins after the latter inched into the black within the last few minutes of trading.
Oil Prices Continue to Churn Lower
Oil futures edged lower Wednesday, extending a pullback after U.S. data showed U.S. crude inventories rose last week. For the session, September-dated West Texas Intermediate (WTI) crude fell 61 cents, or 0.8%, to close at $77.74 a barrel.
Gold prices prices are slipping after today's CPI report. U.S. gold futures fell 1.2% to $2,478.80 per ounce.
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