Wall street inches up higher after release of encouraging CPI data

S&P: 5,455.21 (+0.4%)
DJIA: 40,008.39 (+0.6%)
Nasdaq-100: 19,022.68 (+0.1%)
Eurostoxx: 4,727.60 (+0.7%)
US crude futures: 76.98 (-1.8%)

Wall street inched up on Wednesday, on the back of softer than expected consumer price index (CPI) data, which came in at 2.9% year-on-year, under the 3.0% expectation. The S&P 500 gained 0.4%, posting its fifth consecutive winning day. The Dow Jones jumped over 240 points to close 0.6% higher, while the Nasdaq-100 shook off earlier losses to close 0.1% higher. All three major indices are now above their August 2nd closing levels, which was the session before the global sell off on August 5th. Among the S&P sectors, financials were the top gainer while communication services led losses.

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