Stocks, Bonds Rise as Soft CPI Curbs Fed-Hike Bets | Closing Bell

Comprehensive cross-platform coverage of the U.S. market close on Bloomberg Television, Bloomberg Radio, and YouTube with Romaine Bostick, Katie Greifeld, Carol Massar and Tim Stenovec. A cooler-than-estimated inflation reading spurred gains in both stocks and bonds, easing concern about imminent Federal Reserve interest-rate hikes despite a resurgence in oil prices. The data brought some relief to Wall Street traders worried about a flare-up in geopolitical threats, with the S&P 500 extending this month’s advance. At the start of the earnings season, big banks posted solid results. A rally in chipmakers also helped sentiment, driving the Nasdaq 100 up 1.1%. That’s even as International Business Machines Corp. sank 25% on a sales miss. Consumer prices dropped in June for the first time in six years and a key gauge of underlying inflation was little changed. Fed officials will likely welcome the data ahead of their upcoming meeting even as hostilities in the Persian Gulf risk prolonging the fallout from the conflict. -------- Watch Bloomberg Radio LIVE on YouTube Weekdays 7am-6pm ET Saturday & Sunday 7am-10am ET WATCH HERE: http://bit.ly/3vTiACF Follow us on X:   / bloombergradio   Subscribe to our Podcasts: Bloomberg Daybreak: http://bit.ly/3DWYoAN Bloomberg Surveillance: http://bit.ly/3OPtReI Bloomberg Intelligence: http://bit.ly/3YrBfOi Balance of Power: http://bit.ly/3OO8eLC Bloomberg Businessweek: http://bit.ly/3IPl60i Listen on Apple CarPlay and Android Auto with the Bloomberg Business app: Apple CarPlay: https://apple.co/486mghI Android Auto: https://bit.ly/49benZy Visit our YouTube channels: Bloomberg Podcasts:    / bloombergpodcasts   Bloomberg Television:    / @markets   Bloomberg Originals:    / bloomberg   Quicktake:    / @bloombergquicktake