Inflation Cooled in July — Here's What Moved and Why

Inflation slowed to 3.4% in July from 3.5% in June. The S&P 500 stock index rose 0.26% to 7,748.50. Treasury yields (government bond interest rates), oil, and gold all fell together — signaling investors expect less inflation and lower interest rates, not panic. Traders put just 40% odds on a September rate hike.