US Equity Markets End Higher on Cooling Inflation, Trump's Strait of Hormuz Toll Reversal

MT Newswires Live04:09

US equity indexes closed higher Tuesday after the June inflation rate fell and President Donald Trump withdrew plans to impose a toll on vessels transiting the Strait of Hormuz as a US reimbursement fee.

* The US seasonally adjusted consumer price index in June fell 0.4% from a month earlier, compared with expectations for a 0.1% decrease in a Bloomberg survey and following a 0.5% increase in May, government data showed.

* August West Texas Intermediate crude oil rose $1.54 to settle at $79.68 per barrel, while September Brent crude, the global benchmark, was last seen up $1.92 at $85.22.

* Goldman Sachs (GS) shares rose 9.1%, the second-biggest gain on the S&P 500, after Q2 results beat analysts' estimates.

* IBM (IBM) shares tumbled 25%, the largest drop on the S&P, after preliminary Q2 results fell short of market expectations, with CEO Arvind Krishna calling the performance "disappointing."

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