US stocks higher at midday amid cooling inflation

US stocks ticked up during Wednesday’s midday (ET) after the release of more encouraging inflation data.

At 14:17 ET (18:17 GMT), the Dow Jones rose 214.76 points, or 0.54 per cent, at the midday to 39,980.40.

The broader S&P 500 also gained 9.77 points, or 0.18 per cent, to 5,444.20, while the tech-heavy Nasdaq Composite fell by 43.03 points, or 0.25 per cent, to 17,144.57.

US consumer prices increased in July 2.9 per cent year-over-year, down from 3 per cent in June, marking the lowest reading since March 2021, the Bureau of Labour Statistics said on Wednesday. Month-over-month, prices rose 0.2 per cent.

Attribution: Data compiled from Investing.com