India, Aug. 12 -- The S&P 500 finished higher on Wednesday, August 12, as July inflation data came in broadly as expected and eased concerns about another Federal Reserve interest-rate hike. The benchmark index gained 19.51 points, or 0.25%, to close at 7,747.46.

Market Snapshot

The S&P 500 opened with gains of around 0.5% after the inflation report, although the advance moderated during the session. The index remains close to its recent record level of 7,757.64, reached on August 7.

Why Is The S&P 500 Up Today?

The main driver was the latest US inflation report. Consumer prices increased 0.1% in July, matching expectations, while annual CPI slowed to 3.4% from 3.5% in June. Core CPI rose 0.2% month over month and 2.5% annually, also ...