US stocks rise as Dow gains 1%
U.S. stock markets extended their gains on Tuesday, following a favorable inflation report, with the Dow Jones rising by more than 1%.
Annual inflation came in at 2.7% in July, unchanged from June and lower than predicted by analysts. The markets also reacted positively to the US and China's decision to extend the tariff pause for 90 days, News.Az reports citing foreign media.
The Dow Jones rose by 1.03% or 450 points at 10:24 am ET, the Nasdaq 100 added 0.50% and the S&P 500 grew by 0.58%.
The euro traded 0.34% higher compared to the dollar and went for 1.16543 at 10:28 am ET.
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