Stocks closed higher on Wall Street after a report showed inflation cooled a bit more than expected last month. The S&P 500 rose 0.7% Wednesday. The Dow added 86 points, or 0.3%, and the Nasdaq rose 1.2%. Treasury yields tumbled in the bond market as the cooler inflation data pushed traders to ratchet back bets for hikes to interest rates by the Federal Reserve later this year. Stocks were up even more earlier in the day on hopes for a coming halt to rate hikes. But analysts say they still expect rates to remain high for a while.
