US Stock Market Today: S&P 500 Opens Higher, Nasdaq Up 120 Points After July Inflation Rises Moderately

The Dow Jones Industrial Average last rose 163.16 points, or 0.37%, to 44,139.85, the S&P 500 gained 20.65 points, or 0.32%, to 6,394.10 and the Nasdaq Composite gained 69.38 points, or 0.32%, to 21,454.78.

Eight of the 11 S&P 500 sectors were in gains, with energy in the lead with a 0.8% rise. Further providing some relief, US and China extended their tariff truce until November 10, staving off triple-digit duties on each other’s goods.

US stocks have rallied in recent weeks and the tech-heavy Nasdaq touched a record high on Tuesday, boosted by better-than-expected earnings from technology majors, a detente between the US and its top trade partners and on expectations of rate cuts.