The broad market index S&P 500 rose 0.7 percent and hit a new high for 2023. The Dow Jones industrial average closed up 0.3 percent while the Nasdaq composite gained 1.2 percent. With that, both the S&P 500 and Nasdaq closed at their highest level since April 2022, according to CNBC.
Several bank shares rose in today’s trading. Citigroup and Goldman Sachs were both able to report gains of around 2 percent. Regional banks also had a good trading day, with Comerica increasing by 2.7 percent and Zions Bancorporation by 2.6 percent.
The consumer price index rose by 3 percent compared to the same period last year in June. However, economists had expected an increase of 3.1 percent. Compared to the previous month, the index rose 0.2 percent, also less than the forecast. On top of that, the core CPI – which strips out food and energy prices – rose less than expected.