DBI Today: 51.1 (+2.2)
Inflation was supposed to be the day's big test, and it came back a non-event: US prices rose just 0.1% in July, holding the annual rate at 3.4%, exactly what forecasters expected. Wall Street took the news in stride, drifting toward record highs on the back of blowout earnings from AI infrastructure companies. Oil kept grinding higher, though, as talks to reopen the Strait of Hormuz — the narrow waterway that carries roughly a fifth of the world's daily oil supply — stalled once again. And in a genuine surprise, America's small businesses just turned distinctly more upbeat, even as the broader jobs picture stayed shaky.
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