Wall Street rallies as July's CPI remains steady at 2.7%, fueling rate cut speculation. S&P 500 hits 6,430 points, Nasdaq 100 reaches 23,780 points. JETS ETF surges 6% on airline fares spike. Dow Jones gains 1%, Russell 2000 jumps 2.2%. United Airlines (UAL) and Delta Air Lines (DAL) see 9% increase. Gasoline down, while consumer costs like transportation, medical care, and used cars rise.

Wall Street experienced a rally as fears around widespread tariff-related cost pressures eased due to July's inflation data. The Consumer Price Index (CPI) remained steady at 2.7% year-over-year, below expectations, signaling possible interest rate cuts. The core CPI, excluding energy and food, exceeded estimates at 3.1% annually. S&P 500 and Nasdaq 100 indices reached record highs at 6,430 and 23,780 points, respectively. Dow Jones surged by 1%, while the Russell 2000 saw a 2.2% jump. Gasoline prices fell, impacting the headline reading, but other expenses like transportation, medical care services, and used cars rose. Airline fares spiked 4% monthly, leading to a rally in airline stocks, with US Global JETS ETF surging 6%. United Airlines Holdings Inc. (UAL) and Delta Air Lines Inc. (DAL) saw a 9% increase.