U.S. equities advanced on Wednesday after July consumer price data came in line with expectations, easing concerns that the Federal Reserve might move quickly to raise interest rates. The S&P 500 climbed 0.4 percent to 7,756.22, while the Nasdaq Composite gained 0.7 percent and the Dow Jones Industrial Average edged up 0.2 percent to around 53,872.
The consumer price index rose 3.4 percent year-on-year, a deceleration from June's 3.5 percent, with core inflation holding at 2.5 percent annually. The report offered relief to both markets and the Fed, said Adam Sarhan, chief executive of New York-based 50 Park Investments.
In individual movers, CoreWeave surged roughly 19 percent after its adjusted operating margin beat forecasts, and Super Micro Computer jumped 19 percent on a strong outlook. The 10-year Treasury yield fell two basis points to 4.66 percent, while Brent crude dipped 0.6 percent to $89.34 a barrel.