US stocks rise after in-line inflation data meets Fed expectation

US stocks rose after in-line inflation data spurred bets the Federal Reserve won’t have to accelerate plans to tighten monetary policy.

The S&P 500 gained 0.5 per cent and Nasdaq 100 added 0.6 per cent as the headline CPI rate came in at 6.8 per cent, as expected, which is the highest since 1982.

Meanwhile, the yield on the US 10-year Treasury fell to 1.47 per cent as traders trimmed bets on the pace of Fed tightening.