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US equities rose for a second straight day Tuesday, as investors prepared for an inflation update expected to show price pressures are easing, though probably not by enough to ward off another interest rate increase at the Federal Reserve meeting later this month. The Dow Jones finished over 316 points higher, the S&P 500 gained nearly 0.7%, while the Nasdaq added 0.5%. Energy companies led sector gainers yesterday as oil futures extended a rally, with the benchmark WTI contract rising more than 2.5% and touching a 2 ½ month high on signs of lower Russian production. Retail and transportation shares were also among the strongest sectors, while the healthcare and semiconductor sectors slipped. European equities also closed higher yesterday, with the Euro Stoxx 50 index up another 0.7%, to 4,287 points.
Summary for 12.07.2023
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