S&P 500 and Nasdaq Reach New Highs

The S&P 500 and Nasdaq indices reached their highest levels of the year today, Tuesday, after data showed a slight rise in consumer prices in May, boosting hopes that the Federal Reserve will refrain from another interest rate hike at the end of its monetary policy meeting tomorrow, Wednesday. The Dow Jones Industrial Average opened up 44.75 points or 0.13% to 34,111.08 points, while the S&P 500 rose by 13.68 points or 0.32% to 4,352.61. The Nasdaq Composite increased by 104.60 points or 0.78% to 13,566.53.