Wall Street closes higher as slowing inflation and bank earnings boost markets

U.S. stock market indices closed the trading session with modest gains, as inflation slowed down and major banks reported positive results for the second quarter. This boosted optimism about the earnings season and reduced pressure on the Federal Reserve to raise interest rates. As a result, the S&P 500 increased by approximately 0.38%, the Nasdaq by 0.62%, and the Dow Jones by 0.30%. Additionally, data showing a decline in inflation compared to expectations further reinforced predictions that there may be no need for further rate hikes, despite escalating geopolitical tensions in the Middle East.

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