Live Updates Live Coverage Updates appear automatically as they are published. Markets Red on Hot PPI Data 9:44 am Markets opened in the red after July’s wholesale inflation numbers came in hotter than expected.

By Saeed Azhar, Johann M Cherian and Sanchayaita Roy NEW YORK (Reuters) -The benchmark S&P 500 and Nasdaq indexes hit new closing highs for the second straight day on Wednesday on hopes that the Federal Reserve was getting close to a monetary easing cycle.

After the opening bell, the Dow rose 0.5%, as the S&P 500 gained 0.4%. The tech-heavy Nasdaq composite climbed 0.5% in morning trade. The S&P 500 and the Nasdaq closed at record highs on Tuesday as rate-cut odds bolted higher following July inflation data.