Wall Street saw a slight increase as the latest data on inflation aligned closely with economists’ expectations. The S&P 500 climbed 0.4% on Wednesday, following one of its strongest days this year. Similarly, the Dow Jones Industrial Average rose by 0.6%, while the Nasdaq composite finished almost unchanged.

Treasury yields remained steady after reports showed that consumers experienced a 2.9% increase in prices for items like food and gasoline compared to a year ago. This information is likely to prompt the Federal Reserve to stay on course to reduce its primary interest rate in September.

In the trading session on Wednesday, the S&P 500 gained 20.78 points to close at 5,455.21. Simultaneously, the Dow Jones Industrial Average surged 242.75 points to end at 40,008.39, and the Nasdaq composite inched up by 4.99 points to 17,192.60. Conversely, the Russell 2000 index, which tracks smaller companies, fell by 10.87 points to 2,084.32.

For the current week, the S&P 500 has risen by 111.05 points or 2.1%, with the Dow increasing by 510.85 points or 1.3%, and the Nasdaq going up by 447.30 points or 2.7%. The Russell 2000 also posted a slight uptick of 3.40 points or 0.2%.

Year-to-date figures indicate positive growth, with the S&P 500 up by 685.38 points or 14.4%, the Dow rising by 2,318.85 points or 6.2%, the Nasdaq climbing by 2,181.25 points or 14.5%, and the Russell 2000 showing an increase of 57.25 points or 2.8%.