“Inflation has been showing signs of heating up, boosted by the strength of the economy and increasingly tight labor market conditions. The pace of price increases may have moderated in August, but that is likely to only be a temporary reprieve,” said Jim Baird, chief investment officer at Plante Moran Financial Advisors.
The Dow Jones Industrial Average gained over 100 points as of 11:15 a.m. ET, while the Nasdaq Composite gained over 60 points and the S&P 500 rose over 10 points.
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