Stock Market Today: Stocks Notch Hard-Fought Win After July CPI Report

The major market indexes closed up after Thursday's inflation data, but finished well off their session highs.

blue stock chart with teal bars and pink and teal moving averages
(Image credit: Getty Images)

Stocks shot higher out of the gate Thursday as investors cheered the latest inflation data. However, the enthusiasm faded as the session wore on as market participants parsed some concerning jobs data, with the main benchmarks finishing far from where they started.  

Data from the Bureau of Labor Statistics showed that the July Consumer Price Index (CPI) was up 0.2% month-over-month and 3.2% year-over-year – the latter a slight uptick over the 3.0% annual increase seen in June. Meanwhile, core CPI, which excludes volatile food and energy prices and is often a better tell on future inflation, rose 0.2% on a monthly basis. Year-over-year, core CPI was up 4.7%, below June's 4.8% increase. Areas that saw the biggest price increases were shelter and food.

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Karee Venema
Senior Investing Editor,

With over a decade of experience writing about the stock market, Karee Venema is the senior investing editor at She joined the publication in April 2021 after 10 years of working as an investing writer and columnist at Schaeffer's Investment Research. In her previous role, Karee focused primarily on options trading, as well as technical, fundamental and sentiment analysis.