How major US stock indexes fared Thursday, 7/11/2024

Most U.S. stocks rose after the latest update on inflation bolstered Wall Street’s belief that relief on interest rates may come as soon as September. Three out of every four stocks in the S&P 500 climbed Thursday, and homebuilders, real-estate owners and other stocks that benefit the most from easier interest rates led the way. But slumps for Nvidia, Tesla and other influential stocks in the small group that’s come to be known as the Magnificent Seven masked the underlying strength. That dragged the S&P 500 down 0.9%. The Nasdaq fell 2% and the Dow rose 32 points. Bond yields tumbled.