Wall Street rallies despite inflation pressures

U.S. stocks closed at record highs after August inflation data met expectations, bolstering hopes for a Fed rate cut in September. The Dow jumped 617 points (1.36%) to 46,108, topping 46,000 for the first time—a symbolic milestone reflecting the market’s resilience despite economic headwinds. The S&P 500 gained 0.85% and the Nasdaq rose 0.72%, with all three indexes setting new records. #CNN #News