NEW YORK (AP) — Wall Street rallied following encouraging reports on inflation and on profits at 3M and other big U.S. companies.
The S&P 500 rose 1.1% for its best day in seven weeks. The Dow Jones Industrial Average jumped 1.6%, and the Nasdaq composite climbed 1%.
The market's widespread gains included rallies for both Big Tech behemoths and smaller stocks, a departure from much of this month's trading where a divide deepened between the two groups.
The Russell 2000 index of small stocks brought its gain for July to more than 10%.
Treasury yields eased after the latest inflation data firmed expectations for coming cuts to interest rates.