U.S. stocks rallied after June CPI data came in below forecast on a year-over-year basis. The Nasdaq surged 1.8%, approaching record territory.
The softer inflation print revived bets on a Fed rate cut as soon as September, sending Treasury yields lower across the curve.
Technology shares led the advance, with semiconductor names posting the sharpest gains.
About the author
Su-hyeon Lee
Global Markets Correspondent · Global Markets
