Market Reacts Positively to Inflation Data

Wall Street opened higher on Tuesday, buoyed by the latest US inflation report which showed an annual rate of 2.7% for July, slightly below economists' expectations and unchanged from the previous month. This development has injected optimism into the market, with major indices showing gains.

Key Stocks and Indices Performance

By 9:30 am ET, the Dow Jones Industrial Average had risen by 0.43%, notably supported by a 1.21% increase in Nike Inc. The Nasdaq 100 saw a 0.49% uplift, with Intel Corporation leading the charge with a 2.47% jump. The S&P 500 wasn't left behind, adding 0.46%, with United Airlines Holdings, Inc. emerging as the top performer with a 3.99% climb.

Currency Markets Remain Steady

On the currency front, the euro held its ground against the US dollar, trading at $1.16246 by 9:28 am ET, indicating a moment of stability in the forex markets.

Investors Watch Trump-Putin Meeting Closely

Beyond the numbers, investor attention is also captured by the upcoming meeting between US President Donald Trump and Russian counterpart Vladimir Putin, with the market keen on any developments that could influence global relations and economic policies.