US Stocks Close: Three Major Indices All Rise, Nasdaq Gains 0.9%; June CPI Cools Across the Board, Trump Cancels Decision to Charge Fees in Strait of Hormuz; SK Hynix ADR Surges 27%, Memory Stocks Lead Gains
Tradingkey - U.S. June CPI was lower than expected across the board, and the probability of a Federal Reserve rate hike in July fell below 20%. Additionally, Trump's decision to cancel fees in the Strait of Hormuz further boosted market sentiment. The three major U.S. stock indices closed higher across the board, with memory and chip stocks leading the gains, while a slump in IBM weighed on software stocks. At the close, the Dow Jones Industrial Average rose 0.02% to 52,508.27; the Nasdaq Composite Index rose 0.90% to 26,107.01; and the S&P 500 Index rose 0.38% to 7,543.59.
Tradingkey - U.S. June CPI was lower than expected across the board, and the probability of a Federal Reserve rate hike in July fell below 20%. Additionally, Trump's decision to cancel fees in the Strait of Hormuz further boosted market sentiment. The three major U.S. stock indices closed higher across the board, with memory and chip stocks leading the gains, while a slump in IBM weighed on software stocks. At the close, the Dow Jones Industrial Average rose 0.02% to 52,508.27; the Nasdaq Composite Index rose 0.90% to 26,107.01; and the S&P 500 Index rose 0.38% to 7,543.59.
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