The S&P 500 was lifted 0.8%, looking at a record-high close. The Nasdaq composite gained 0.9%, after hitting a new intraday on the stock market today. Small caps on the Russell 2000 fared better than the major indexes and powered up 1.6%.

U.S. stocks finished sharply higher on Tuesday, with the S&P 500 and Nasdaq Composite booking fresh records after [the July consumer-price index](

However limiting the optimism, the data suggested that underlying inflation rose by 3.1% in the previous month as markets look for signs that tariffs and trade uncertainty were filtering into prices.