Stocks edge higher, pushing further into record territory
Stocks were mostly higher Wednesday, pushing beyond the records they had set a day before on the back of strong earnings and better-than-expected economic data.
A report from the Labor Department showed that consumer prices jumped 0.5% from June to July, down from the previous monthly increase of 0.9%.
Year over year, consumer prices have increased a substantial 5.4%.
While the headline figures may seem bad, most of the rise in consumer prices has been tied to very specific goods that are not expected to impact the long-term health of the economy like used cars, building materials and hotel rooms.