NASDAQ hits fresh record high

US stock indexes rose on Wednesday as markets tracked the implications of recent trade talks and inflation data.

Government data showed that the annual growth rate of the US Consumer Price Index held steady at 2.7% in July, below expectations for a rise to 2.8%.

The core inflation index — which excludes volatile food and energy prices — rose to 3.1% in July, above expectations for a rise to 3% and compared to 2.9% in June.

According to the FedWatch tool, investors now see a 99% probability of a 25-basis-point interest rate cut in September, compared to 94% yesterday and 57% a month ago.

Analysts also expect a 61% probability of another 25-basis-point cut in October, compared to 34% a month ago, along with a 51% probability of a similar cut in December, compared to 25% a month earlier.

In trading, the Dow Jones Industrial Average rose 0.7% (315 points) to 44,777 points as of 17:30 GMT, the S&P 500 gained 0.1% (5 points) to 6,450 points, while the Nasdaq Composite added 0.1% (5 points) to 21,685 points.