(Newser) – Stocks closed at three-month highs on Wall Street Wednesday as investors cheered a report showing inflation cooled more than expected in July. The S&P 500 jumped 2.1% to 4,210.24 Wednesday on expectations that slower inflation will mean the Federal Reserve won't hike interest rates as much as feared. The Dow Jones Industrial Average rose 535.10 points, or 1.63%, to 33,309.51, and the Nasdaq jumped 360.88 points, or 2.89%, to 12,854.81. Technology stocks, cryptocurrencies, and other investments among the year's biggest losers due to the Fed's aggressive rate hikes led the way, the AP reports.

https://www.newser.com/story/324039/wall-street-hits-3-month-high-as-inflation-cools.html

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