Economy
Wall Street nears record high as investors await US inflation data; oil prices fluctuate
What happened
Wall Street's major indices edged closer to record highs on August 11, 2026, as traders closely monitored upcoming US inflation data. Oil prices swung between gains and losses amid mixed economic signals, reflecting cautious optimism in global markets.
Key facts
Key facts: The S&P 500 was trading 0.4% higher, approaching its record close of 5,670.25 set in July 2026.
The Dow Jones Industrial Average rose 0.3%, while the Nasdaq Composite gained 0.5% during the session.
Brent crude oil prices fluctuated between $82.50 and $85.20 per barrel before settling near $83.80.
US consumer price index (CPI) data for July 2026 is scheduled for release on August 12, 2026, with markets expecting a 0.2% month-on-month increase.
The Federal Reserve is widely expected to maintain its benchmark interest rate at 5.25%-5.50% following the inflation report.
Context
Context: Wall Street refers to the New York Stock Exchange (NYSE) and Nasdaq, the two largest stock exchanges in the US. The performance of Wall Street often influences global markets due to the US dollar's dominance in international trade and finance. Inflation data is a key economic indicator that affects monetary policy decisions by the Federal Reserve (Fed). Oil prices are sensitive to geopolitical tensions, supply disruptions, and global demand fluctuations.