US stock markets opened with strong gains today, as inflation showed signs of steadying and key financial institutions posted better-than-expected earnings for the second quarter. The S&P 500 gained 0.47%, the Dow Jones Industrial Average rose 0.20%, and the tech-heavy Nasdaq Composite surged by nearly 1%.
Goldman Sachs and JPMorgan Chase led financial sector gains, buoyed by robust consumer lending activity and improving credit conditions. Core CPI rose just 0.2% month-over-month, supporting investor hopes that the Federal Reserve may begin loosening monetary policy later this year. Traders are now pricing in a possible rate cut by December.